Stock: MRC
Company: MRC Allied Inc.
Support: 0.76
Resistance: 0.94


The last time MRC traded at these levels was in March 2018, almost three years ago. At that time, it reached a high of 0.94.

Yesterday’s trading fell short of breaking that level since MRC only reached an intra-day high of 0.93. This effectively cements the 0.94-level as a strong resistance that MRC could very well soon challenge.

MACD is still on a buy, while DMIs are showing a bullish divergence. However, RSI is at 76.1273 — already considered overbought.

While there may still be an uptick later today, it looks like MRC will start to lose firepower soon. Even its momentum is starting to taper.

Now may be as good a time as any to take profits.

Recommendation

Take profits.

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