MUX opened lower on "This News", its since recovered all of its earlier losses and has turned green at this moment, so buyers are stepping up, ...we will know more at the close.
Monday's after hours price, (8.00pm), moved up to the slight resistance 'High' at $20.70 that I mentioned in my last post, I knew then that today could offer some type of event, so news is leaking but those who shorted might be on the wrongs side this time.
MUX dropped down to the red pivot-line on the hourly chart and also to its 20-hour EMA on the news this morning , and so far, ...its a non event, but its still early, and you can see several open hourly gaps on the chart, there was a time when many of these hourly gaps filled days later, but I think the momentum is keeping the shorts away.
MUX has not made a lower-low on the daily chart, as of yet anyway, but it has not made a higher-high either, but its still early, so we are have a neutral day as of this hour, ...I think the market is taking today's news well this time around. The problem with not having a solid floor below as the stock moves higher, can create a water fall type of sell off, but so far, ...its been a pretty solid move up! The $20.70 next, followed by the $21.00 and if we can take out the $21.40 quickly, we have $24.40/50 area.
|
