$MVP broke out of a short-term bull flag on strong volume today. The pattern has a target near $5.80, which is also where resistance is expected to be found as it was a strong pivotal point during the Distribution phase back in mid-2016.
The move today could also be the start of the Sign of Strength as it moves out of the 9-month long Accumulation trading range but since it's a long-term pattern, it would be more bullish if it has a weekly close above this range (~$5.50).
The move today could also be the start of the Sign of Strength as it moves out of the 9-month long Accumulation trading range but since it's a long-term pattern, it would be more bullish if it has a weekly close above this range (~$5.50).