Home > Stock Charts > Charts: McEwen (MUX) Price Direction Week of 3-26-12

Charts: McEwen (MUX) Price Direction Week of 3-26-12

McEwen Mining had a nice run on Friday 3-23-12, finishing the day up 38 cents or 10.16% up. Recent action in the charts continues to be very interesting.

That being said, let’s first take a look at the following chart.

MUX Price Chart 3-23-12

MUX price may be on verge of reversing downward

MUX price temporarily fell below both the bottom of the Andrew’s Pitchfork and sell trigger lines on 3-22-12, only to jump back above the bottom line of the pitchfork on Friday 3-23-12.

That being said, the next chart may provide further information on the direction MUX will take.

Mux 1-year price chart

MUX 1-year price chart with detrended price oscillator

MUX had recently been moving down in price following rising above the upper channel of the 21-day detrended price oscillator back in January. It recently crossed the dashed white line at zero and the price fell below the 21-day exponential moving average represented by the dashed line and also by the blue line on the price chart.

It is possible that the detrended price oscillator continues to move toward and then outside of the lower end of the channel. Alternatively, it could cross the dashed line. Should it cross the white line, a price closing above the blue line on the price chart would be a signal to buy. You could then hold until the price nears or crosses below the blue line again.

Alternatively, should the detrended price oscillator rise above the upper line of the channel you could use that as a sell signal.

Next week looks to be an interesting week for MUX.

Disclaimer: The above is for informational purposes only. This should not be considered investment advice. Any investment decisions are your own and should be made after conducting your own independent research and / or in consultation with a professional investment advisor.


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