3SOF

mcel enjoying the energy boom.

mcel has partnerships with some big players.  maybe one will buy them out.

mcel has been conserving cash to survive for a while now.

i listened to their conference call and really like them.

they appear to me to have unique technology.

maybe they will raise some more money.

i bought at $1.70 or so and sold for a small loss.

i should have waited.

i liked the company.  just didn't like seeing the price go down.

bust a move 

MCEL popped up yesterday based on the new energy bill in the US.

Facts:
Millennium Cell, Inc. develops hydrogen energy systems for use in portable electronic devices for military, medical, industrial, and consumer electronics markets. Its systems use Hydrogen on Demand technology to generate hydrogen through the use of sodium borohydride. The company has a collaboration agreement with The Dow Chemical Company for the development and commercialization of portable fuel cell systems for use in consumer electronics and military applications. Millennium Cell was formed in 1998 and is based in Eatontown, New Jersey.

MCEL  gains past $2.00 resistance is likely to ease back into a test of (new) support. A weekly close over $2.50 will be significant for the longer term picture which could bring a future price target of $4.00 into range. For now I will keep closest resistance as the price target. The point-n-figure target shows a price objective of $0.75 which will only be negated by a move to $3.50. (fallond quotation)

Chart:


comments are appreciated, will there be Greenspans impact for todays stock price?

The chart looks very attractive la-onda, this looks like a good pick, I'll dig some more and, who knows if this won't go into the 3 Stocks on Fire Portfolio today? 

I bought MCEL today at 1.92 a half hour before the market close.  1.90 seemed to be support and I was waiting to see if it broke below 1.90, but it never did.

Following the tall white candle pattern with a volume spike, I generally buy two or three days later in the middle level of the long white candle with volume tapering down.  It's a bullish chart pattern.  I think they call it the "bullish mat hold."  I like the chart of MCEL and it has a big potential future to go along with its chart.  I'm wondering, could it go to 15 again?  Juding from the chart, I feel confident to hold through 5 at least and keep accumulating on the dips.

David, could you please comment some time on MCEL?  Thanks.

updated chart:

MCEL is moving nicely this morning.

Do you have a target price in mind for this stock and is it short, medium or long term?
So many questions, i know

Very nice pic!

julia

just on fire:

Congrats!

Is this one going to follow in the footsteps of CPST and BCON? 

on fire again (unfortunately not with me) 

I was also in and out of MCEL when it was ripping a few weeks ago and have kept tabs on it since. 

Is now heading towards support at 2.00, (is 2.05 after-hours) on low volume.  Could we see a bounce off this level tomorrow or the next day?  It also looks like it has had a tendency to bounce off the 50 day SMA during its uptrend.  This is sitting at 1.90 right now, and could act as a reasonable stop.

Anyone else still following MCEL?  what about other AE plays?  MCEL hasn't quite had the chance to properly break like the rest of them, perhaps it could be its turn...

MCEL came down to touch the ascending trendline at 1.95 yesterday, which met a longer term horizontal support level here also.  It closed at 1.97 just above the 50 day SMA, which stood at 1.92.  In the intraday, after a morning of continually losing gound, it seemed to find some support during the afternoon at around 1.96-1.97.

It has been following a sharply descending resistance line that is rapidly converging with my ascending trendline, giving MCEL little rooom to manouver before determining which is stronger.  While all AE stocks have been week the last week or so, but I see the sector as still being bullish, and expect MCEL to break to the upside.

So to put my money where my mouth is on my first piece of proper TA on this site (am still learning ) I bought in at 1.96, just before close yesterday.  I won't tolerate much downside on this trade, as I think it needs to decide where it wants to go, so if it closes below 1.90, I will take the loss.  My short term target is recent high closes at 2.55, but the technical target for the break would be around $3.

As I said, this is my first piece of TA here, so any comments from more experinced members would be much appreciated.  After all, thats what having such a great community like 3SOF is about

Okay, so no comments from anyone, and I'm guessing no-one else is following this little puppy.

Well, MCEL didn't quite act as I hoped, and dropped below the 50 day SMA, but seemed to find some support at 1.87, and has made a small rebound from this level yesterday.  However, I have been moving from Scotland to Southern California over the weekend, so missed this, coming back to see yesterdays upward bounce.  With this in mind, a slight re-draw of the support line may fit this recent movement better.

Today we doji'd right on the steep resistance line, and while volume has not been building, I expect that we shouldbreak this resistance in an upside move tomorrow.  Whether it is significant, we shall just have to see.

Looking at the 1 year chart (bottom) there is a long term ascending trendline that should provide strong support just below where we are currently running, and that stands at around 1.80 right now.  While I expect a move to the upside, this will now provide my stop loss on this play.

Again, any comments are much appreciated 

And ther she goes

On fire!!  Damn I wish I had the confidence to stick with my trading plans more - I sold out last week!!

Still some potential upside on this one, though there is resistance at $2.25 which it looks like it has topped out at.  Let's see where it goes