As requested by Green: MediaRing. This stock is particularly susceptible to the ebbs and flows of fundamental news. Recently it was the proposed acquisition of PacNet that is creating the hype. It can be seen that MediaRing is quite desperate in trying to acquire PacNe
t, and rightly so, given the synergy that it would benefit from PacNet's regional exposure in Internet communication services which would be an excellent platform for MediaRing to expand its VoIP biz. Whether or not it will succeed eventually is another matter.
At the moment, look to .305/.28/.265 for support and consolidation. Upwards resistance at .375 and .44, the 61.8% retracement from its recent low to its high of .53. Note that it is now in a tight downward trend channel in which the degree of change is sharp and fast. Vested traders have to be especially alert for sharp movements.
t, and rightly so, given the synergy that it would benefit from PacNet's regional exposure in Internet communication services which would be an excellent platform for MediaRing to expand its VoIP biz. Whether or not it will succeed eventually is another matter.At the moment, look to .305/.28/.265 for support and consolidation. Upwards resistance at .375 and .44, the 61.8% retracement from its recent low to its high of .53. Note that it is now in a tight downward trend channel in which the degree of change is sharp and fast. Vested traders have to be especially alert for sharp movements.
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