Not a bad day at all for MSOS, and I have to admit it felt good seeing it finally close above that psychological $4 level. That’s one of those round numbers that tends to matter more than it should, but time and again the market proves that traders pay attention to it. Getting above it and more importantly holding it into the close is a small but meaningful win for the bulls.
When I look at the 5-minute chart, most of the session was honestly pretty forgettable. Price action was choppy and lacked conviction, the kind of day where it feels like neither side really has control. For the majority of the trading day, MSOS just drifted, with no real urgency from buyers to step in aggressively. If I had only checked midday, I probably would’ve written the day off as noise.
But the last hour completely changed the tone.
That’s where things got interesting. We saw a clear surge in buying, and what really caught my attention was the accompanying volume. It wasn’t just a slow grind higher, there was real participation behind the move. Volume expanding into the close is something I always watch closely because it can signal institutional involvement or at least a broader shift in sentiment. It tells me this wasn’t just retail chasing, it had some weight behind it.
Closing on the exact high of the day at 4.14 is another detail I don’t ignore. That kind of close suggests buyers were in control right into the bell, with no meaningful profit taking to push it down. It’s a subtle sign of strength, but in my experience, those closes tend to matter, especially when they line up with key levels on higher timeframes.
And that brings me to the daily chart.
Zooming out, it’s pretty clear that 4.14 isn’t just any number, it lines up perfectly with last month’s high. That makes it a level worth respecting. Markets have memory, and prior highs often act as resistance until proven otherwise. So while today’s action was encouraging, the real test comes next.
If we can clear 4.14 convincingly tomorrow, I think there’s a very good chance we see continuation to the upside. Breakouts above well defined levels like this can trigger momentum, especially if short sellers start to cover and sidelined buyers feel forced to chase.
This setup also reinforces what I wrote back on April 4th about momentum shifting in favor of the bulls. At that time, the technicals, especially the MACD turning bullish suggested that a change in character was underway. Now, we’re starting to see price action confirm that idea.
It’s still early, and one day doesn’t make a trend, but this is the kind of price behavior I want to see if MSOS is going to make a meaningful move higher.
April 4th commentary: MSOS Setting Up at Major Support as MACD Turns Bullish
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