karasinga wrote:mumias broke below the up trendline at 1.25, 8 day(s) ago. This is a bearish sign. This up trendline, currently with an ending point at 1.30, may now provide upside resistance. Volume on the day of the breakout was quite light---88% below average. The most reliable breakouts are accompanied with increased volume. And with prices having only declined 0.00% since the breakout, the validity of the breakout is questionable. The most recently confirmed down trendline for mumias has an ending point currently at 1.34. Expect prices to have some difficulty rising above this trendline. A break above this trendline (particularly on heavy volume) would be a bullish sign.
MSC is a stock sometimes defiant of charts because of serial bombardment by bad news! As long as there is no real turnaround in terms of raw materials this stock will continue going down each season.
John 5:17 But Jesus replied, “My Father is always working, and so am I.”