Hello Wuitens, ... Last Paragraph.
"and if we can take out the $21.40 quickly, we have $24.40/50 area."
It took out the $21.40 quicker than I thought on Wednesday, its moving parabolically ...without creating a solid base below or a meaningful platform to land on if it suddenly reverses, which is my greatest fear when a stock shoots up like this, but so far so good and I'm in it for the long haul, I think $42.00/44 is possible at some point in the future.
Regarding its short term moves, ...MUX had a slight hesitation around 12.30pm mountain time in the $21.30/40 area mid day on Wednesday, eventually closing above it at $21.51.
This is a monthly chart that goes back to 2018/19 area. The vertical dotted line is the $24.40 high-point.
The black circle is the high from 7/2018 its the $25.20, this would be its next resistance level, and it has a couple of weaker areas below on the daily and weekly chart, but the way its behaving, they are insignificant right now, and the way its shooting higher tells me some large institutions are accumulating. I just hope we don't see what's called an Evening Star anytime soon, it could be the start of a possible reversal.
This is a line chart of MUX, the last time MUX formed a base was back in the first 2-weeks of September.
|
|
