MCI Barings Corp (Mass Mutual Insurance)
Hi I'm looking for MCI to get a nice move w it's recent purchase and interest in BTC through it's subsidiary in Mass Mutual Insurance. Might see some short-term headwinds possibly as much as to fill the gap remaining from its bounce in March around $10.50-10, if it does I will be DCA'ing at this zone. If BTC continues it's bullish trajectory I imagine MCI will run as well. They are the parent group of Mass Mutual Insurance, and with MMI's investment of $100 mill into BTC to support payments I think this has incredible upside potential. Definitely an interesting time with much market uncertainty, but it is currently resting on the highs from 1998, the March pullback maintained a high trend established from the bottoms of '80, '90, and 2009. It also seems to be maintaining an ascending flat-top triangle with highs of ~$18.8, but again could put in a low touch around $10. I would look for a quick pullback to about $12.50 for entrance off the 50 of the fib, there is a little bit of resistance at about $14.10 from a low in '13, but I would imagine it tests $15 soon with a backtest around $13.60 before continuation. A projected continuation from a break of the triangle will most likely bring it to about $23. The RSI is turning up, wave-trend has flashed a buy signal, MACD showing some divergence off the lows and limited sell side pressure, DMI crossing to the buy side trend. I am optimistic in the long-term potential even if this rolls over if BTC trends down. I am not a financial advisor nor is this financial advise. But I hope you all enjoy. Been awhile since I posted anything, but hope everyone enjoys the holidays! Stay safe and good luck
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