Just did some initial charting tonight on Microvision, Inc. (MVIS
) partly because of the higher volume sell off. I don't know the reason for the move (warrant conversion?), nor do I really care due to my rock solid belief in the long term viability of this company.
I will say, however, that the technicals have just gotten a whole lot more bearish. Despite the now tarnished chart, the fundamental story has now improved. The question is can longs handle Microvision moving in any direction other than straight up?
MVIS 1-yr chart:
Click to Enlarge