On the weekly chart, M1 looked like it was putting in a bottom.

After reaching a high of over $3.99 on 3rd Mar 2015, it fell down to $3.16 on 2nd Jun 2015, and then share price has been stabled at the range of $3.20/$3.24 during the latest week (29th May 2015).

On the daily chart, $3.24 is the reversal price (MACD histogram will tick up). I was going to buy at $3.26 and protect at $3.16 which I thought well within the zone of market noise.

My entry on 5th Jun was at $3.26 with a stop at $3.20, four cents above Friday's low. I thought that if the stock wanted to take out that low, the bullish game would be over for a while, but I was willing to give it that much space.

M1 rallied Mon (8th Jun) and Tuesday (9th Jun) but I faced a decision - to take the 13 cents profit or to stay with the trade (to become long term investor).

I will post a follow-up on this trade when I close it out. But I am seriously considered making it a longer-term investment again, but caution prevailed.

Best wishes,

Divergence Trader.

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