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Don't Tamper with Macrovision

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Shares of Macrovision (NASD:MVSN) are up $2.42 today, and getting ready to clear some key resistance.

Macrovision Daily Chart

The software copy protection company has broken out of its wedge today, and is preparing for an assault on the 200-day moving average and 38.2% retracement bracket at $62. If those levels are cleared, $70 could be in the stocks future. The point and figure chart is also suggesting some upside potential.

Macrovision Point and Figure Chart

MVSN broke out of a bullish triangle recently, and after slightly pulling back is getting ready to flash another buy signal. $62 is also the key level to watch on the point and figure chart, and the ability to trade that level would give a spread triple top buy signal.

Jeffrey Canavan
Assistant Analyst

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