An Ominous Technical Development For MicroVision Bears

When markets are in rally mode, the bulls are in charge. When they are heading lower it’s the bears who are in control. The breaking of a downtrend line shows the leadership may be about to change from the bears to the bulls.

This could be the case with shares of MicroVision, Inc. MVIS stock.

In the middle of June, MVIS was trading around $22 per share. Then it went into a downtrend and found support around the $12.30 level. It's moving higher Thursday, and in doing so, it broke its recent downtrend line.

The bears may be out of gas. The bulls may be taking over.