MDC position

Interesting couple of days.

MDC went up over $2 yesterday on no news and normal volume! It even broke out of its descending channel!

Then today MDC fell back into the channel but just barely and it is resting on the 30 dma. Now we wait and see if it bounces off the 30 dma or continues into the channel.

I hate when a stock does not do what it is suppose to do! It is possible that on the housing data that came out last week that this stock is now trying to form an ascending channel; however with the fears of continued interest rate hikes I would expect a squash on this attempt.

We shall see tomorrow!

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