Long
MITC Readying for a Recovery?
Its been a brutal year for Nasdaq, and MMITC is no exception. Its been tracking downwards since December after the Black Friday dip in major US indexes. While MMITC has underperformed 
NDX, its smaller enterprise value makes this equity more vulnerable to background volatility, and the fact that the MITC and NDX price action's have followed the same course indicates a tight nexus. That said, we may be in for a reversal soon, and the fact that MMITC's RSI is in undervalued territory speaks to this. MACD is also moving in a positive direction, so I for one am banking on the fact that once NASDAQ reestablishes its foot, MMITC will be right up there with it.
NDX, its smaller enterprise value makes this equity more vulnerable to background volatility, and the fact that the MITC and NDX price action's have followed the same course indicates a tight nexus. That said, we may be in for a reversal soon, and the fact that MMITC's RSI is in undervalued territory speaks to this. MACD is also moving in a positive direction, so I for one am banking on the fact that once NASDAQ reestablishes its foot, MMITC will be right up there with it.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.