[isatrader]

It was an interesting first week of the year in the market, but for me MIFI stood out early on, and was was highlighted on the elite board early in the trading day on Tuesday 6th, and closed the week strongly 22% higher from there.

MIFI looks like it could be our first candidate with A+ potential imo, as if you look at the weekly chart attached it made a Stage 2 breakout on 2.95x average weekly volume and closed the week strongly above it's near term resistance from the 2013 highs, completing a year and a half inverse head and shoulders pattern, and showing very strong relative performance versus the market also.

   

The monthly chart shows that's it's moved into Stage 2A position this month, and the monthly volume is approaching it's average, and so looks like it could reach the 2x average monthly volume requirement that we look for.

   

As we drop down the timescales, the daily chart has the strong technical attributes that we look for - see the breakout quality checklist thread. And the 2 hour chart highlights the strength of the move including the volume change since the beginning of the year.

       

To round it off, I've included the P&F charts to give a longer term perspective on the price action and relative performance versus the market.

       

The breakout was very strong this week, and so personally I will be looking for the next pullback / consolidation for a possible entry point using the shorter term charts (Daily and 2 hour) to fine tune the entry point over the next week or so. But if the strength continues, then I might need to have much more patience to wait and see what happens on the first significant pullback.*

*This is not a recommendation, and is just my personal opinion. So please do you own research if you intend to trade this stock.