Tuesday, April 7, 2015

Another interesting chart - McEwen Mining

MUX US ticker's chart looks interesting today:

Feb to April shows an inverse head and shoulders pattern, which is a bottoming pattern, and it also happens to make a double bottom with the December low.

A break above the neckline ($1.13 or so) will target $1.35 or so, though the volume on the right shoulder isn't that impressive at this moment.

But the peeking above the SMA(50) today is nice. At least it means it's going to try to go up from here.

And I'm more impressed that volume has disappeared after the Dec bottom. Things go up after nobody's left to puke them.

The Canadian chart looks completely different, but Americans are the only people in the world who matter, right Whitey?

No comments:

Post a Comment