martes, 30 de septiembre de 2014

$MUX Trading Idea and stock analysis. Last Price $2.01 (-4.26%) 09-30-2014.

$MUX Trading Idea and stock analysis.  Last Price $2.01 (-4.26%)  09-30-2014.  

Hi folks, Today I would like to talk about MUX McEwen Mining. Actually this stock is really oversold and in my opinion we have the chance to enter in this stock.
The  Consensus average Target prize for this stock is $5.25.

Let´s see the Chart.

Supports and resistances:
S1: $1.99  S2: $1.78  R1:$2.42 R2:$2.87

The MACD is below zero and below the signal. The price is going downs since July 10th.

The RSI is at 33% oversold. The line crossed the 50% level i August 15th.
The stochsatic is at 7% very very oversold!!.

If we analyze the Elliott waves (Downtrend serie). Actually the price is reaching the c wave, so it is inside the terminal pattern and in my opinion will bounce soon inside an upside serie.

The gold is going down too and actually is really oversold. I think that in the next weeks the gold and this stock will bounce or at last will restore part of its value.
Actually the price is close to the 76.40% Fibonacci Retracement, and inside the support level. In the past this stock has bounced at this price.

Finally i have to say that if we use the fibonacci time series, yesterday was the 57 session since the last relative max.
In the past this stock bounced at the 57 day sesion after the last relative max.
Those reasons makes me think that this stock will bounce soon. So I recommend to buy. 

BUY RANGE [$2.01; 2.14]

And the actual targets are:
TG1: $2.68
TG2: $3.13
TG ext:$3.85

That´s all! Please remmember to click on some ads before you leave this blog, it´s important to  maintain it! Thank you! :)