INBS Opinion - Note that the MFI 60-70 zone (middle dashed line area) creates a resistance band indication. MFI levels are anchored that way so no matter the stock or the time frame they tend to be hyper accurate. If you don't do well with on-chart trend and support and resistance lines the MFI may be of value ( I set the MFI at 40, 60, 80. I remove the idea of oversold and overbought. Instead I interpret those as support and resistance AND breakout levels. I will be watching this stock; should a confirmed pivot be generated AND the MFI breaks through the 60 level, I will then check for rate of change for a breakout in play. Hint - when the MFI makes a sharp vertical drop to 0.00, it often proceeds a breakout. Note the drops on this stock and the price action following the drop. Also note the MFI line moving through the 40 and 60 levels in-line with the moves up. - Opinion
