MIC - bearish engulfing

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DCL #6050: Change in corporate name
This is in reference to Circular for Brokers Nos. 6022-2007 dated September 28, 2007, in connection with the approval by the Securities and Exchange Commission of Multitech Investments Corporation's ("MIC") change in corporate name and primary purpose. In view thereof, the change in corporate name of Multitech Investments Corporation to Minerales Industrias Corporation will be reflected on the Exchange's computer system effective October 8, 2007.


MIC = 6.1 (-4.7%)

After momentarily touching the target price of 6.8 MIC formed what seems to be a bearish engulfing pattern.

Support will likely be at the 130MA (5.5-5.6)

Resistance will come from 65MA and 6.8 (the recent high of the rally), if MIC fails to close above the resistance tomorrow, it could confirm the reversal of the trend towards consolidation or down trend.

Good luck to all MIC traders!

Disclosure: Still holding MIC

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