Hello Doug,
Not a good report for sure, but, somewhat better than many of it's earnings from a dozen or more years ago, whisper numbers can be misleading, it's hard for any company to know what the future holds. I'm in it for it's future prospects, it's future financial expectations, and I think they are real and still in tact. So this report is a short term outlook and its backwards looking. MUX is still growing its portfolio.
I updated the pivot points, and I've also viewed other indicators which are very oversold. I see it rose above the 50-day-ema at the open this morning as it bounced off of the $18.28 pivot line before selling off sharply. The $16.35 is now it's most recent pivot, followed by the pivot at $15.19. The 50 and 20-ema's are slowly nearing, I hope we don't see a crossover which could take it lower yet! The circle is a small area of support, its all that's left before it reaches the square base. As far as a turn around, the best we can hope for is a "V" shaped recovery at some point soon.
The Fibonacci retracement lines are similar to pivots, its a sequence in which each element is the sum of two elements that precede it, (before or after), ... (similar to pivots), they also offer support and resistance, and they are often used to seek out levels to determine where to place stop-loss order and/or set a target price to improve trading strategies, I don't trade, but I do look at them occasionally. As we can see, ...the 61.8% is about even with our pivot-point around the $16.35.
MUX has sold off +61.8% from the day before the gap on Sep-2nd at $11.59, to its high on Oct-16th at $24.88. The 78.6% retracement line is in the square box in the chart above, and Friday is once again nearing. The trajectory is down, we wait for the next leg-up, and it will come.
James
|
