Hi Doug,
You may be right on the short-term bottom, and its been a good few days but what concerns me is a gap below from Friday's close to Monday's open ($16.16 to $16.56), and also, volume is well below average, we at least need to see "at or above average volume", ...it's 30-day average is 1.724 million shares according to my resources, but I'm still optimistic and hoping for a "V" shaped recovery.
For now, the next hurdle is it's 20-day ema at $17.92. Friday's attempt to close MUX below the $15.19-line failed which I was happy to see but I will hold that line for the time being.
MUX failed to rise above the $17.28-line last Thursday, this past Monday and yesterday, and today we broke above it on (so far), below average volume but its still early. Right now MUX is in between it's 50-day and 20-day ema's. The $18.16 area would be it's next challenge if MUX can break and close above the 20-day ema for several days, and the following one would be in and around the $20.30. We will know more if and when it takes out the 20-day. Best Wishes, James.
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