today it broke below 150 and closed below.
on TA bearish signals are blaring.
today another red candle clsoing on daily lows.
the monthly rounding top pattern since 5 Jan is now completed
the false exuberrance & the bearish move lower I called was SPOT ON thus far.
the danger is that the 31 Oct rounding top pattern completes to 136c again
the large capex burning and low production figure way lower than PAN even is worrying.
I said last year MCR has NO ROOM to disappoint due to its very high PER & valuation
yet its disappointed on reserves, production and costs and even worse capex spending has blown out of all prior estimates.
Spending $400M on capex with such low reserves but still NO MILL is outrageous imho.
the bull run seems a memory now 20c to 270c
as in 2014-2015 MCR has a habit of running shocking down very low beyond all expectations.
I was burnt by that shocking crash in 2015.
INSTOs who ramped are now SHORTING, only way they can make profits here now imho,
Sharp SHORT ATTACK may be imminent imho.
Dont shoot the messenger for correct calls.
Question more, dont believe the hype on here.
my call 120-140 still in play.
MCR Price at posting:
$1.49 Sentiment: Sell Disclosure: Not Held
