Your Welcome Saint, thanks for reading, this used to be a pretty active board years ago, I imagine many have moved on.
I see MUX pulled back to just above its 50-day ema, obviously investors were not impressed with the quarterly report and rightfully so, or was it the conference call they were not happy with? ...hard to tell with this company.
Thursdays daily bar ended the day very negative, selling off and creating a large tail to the upside, I think it greatly effected Fridays action. The cup and handle formation is still ongoing, the ideal length of the handle is 3 to 4 weeks from the peak, we are now starting the 3rd week,
Typically a pull back on a handle needs to hold above the 50-day ema which thus far is correct, and the % pull back in price of less than 20% from the top closing price to the low closing price which we are now flirting with, we are roughly at 17/18% as of Fridays close, MUX is border line of failing the formation.
Nice to speak with you again.
James
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