It is a popular saying that what others stutter,charts shout.
Well let us reconfirm what MYX chart has been shouting for a while.
Long term down trend line has been broken for a while, the one that you
draw from top to its bottom during its fall on daily or weekly chart.
It has been consolidating in a broad range of 60-80 forming triple top at 80
with the consolidation looking like an inverse shoulder,head and shoulder formation.
Trying to break through 80.But so far not successful.
When a break from 80 comes technical projection is 100 , so likely to raise its head above
100.
Remember there are 1.5 billion issued shares. If 11 % is short then i will love
to see a day with 70-75 million volume and big up day to confirm reversal.
Till then i am not happy about the up strength.
It can come any day, any week any month .
I won't attempt a guess.
I do feel it will happen this year.
If things go as per the plan 100 this year, old all time highs knocked down
before the end of next year.
If and when that happens then the technical projection becomes 363 in 2020.
Possibilities .
I think good possibilities but no certainties in the market.
Have a lovely day.
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