MMAG - You Should Ignore the Spike
MMAG - This thinly traded stock is suddenly flushed with stronger than average buying interest, pushing it sharply. Indicators seem promising, Bollinger Band is widening & sloping upward. Is there further space left? We think the risk of riding the stock is high at current level. Resistance is getting closer at 0.35. We particularly do not like stock with sudden heavy swing, the nature of the stock is highly manipulative, so if retail traders intend to ride on it, the risk will be greater than usual, as the price is hard to predict. And the wild swing can leave one unable to react quickly in case selloff happen - like what happen to PRG on yesterday, the stock pushed to 1.30 and quickly melted down to 0.955. What will you react if this happen? So, it's good to avoid.
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