BitterSweetMarkets
Long

A Bullish looking MITK is now testing Resistance...

NASDAQ:MITK   MITEK SYSTEMS INC
27 0 2
Its a nice Bullish Pattern , however from mid February the uptrend is steep ! The same uptrend can be seen from the 2nd of November 2015, resulting in a 65% retracement, which began to form the weekly Trendline Support. The difference this time is we are at a stronger Resistance area . (grey shaded horizontal) A Pullback in inevitable, and my idea is that it will be around this Resistance area . A break above is a Buy signal, as is a Pullback to the Trendline support. A Break & Hold below the TLS             on the Daily could suggest more Downside is on the cards. I will be waiting for the Breakout or the Pullback before i get in Long..
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