Nearly ready to drop out of the Bollinger bands and perhaps hit the 50 SMA, almost instantaneously. Likely the .355 /.365 mark
Will wait until confirmation of the rebound and maybe purchase one or two shares for fun.
However, USD weakness and the beginning of the Indonesia production season increase, plus the possible hidden derivatives trades again, we have no real idea of the company's 'true' levels , at present, which could cause further falls as well. Chile too is a contributing factor, which is highly volatile.
Happy to wait and let the knife bounce back up before I buy again, as I no longer want to waste capital and opportunities, that could be more efficiently employed elsewhere.
This time it's just the trade...
MLX Price at posting:
37.3¢ Sentiment: Hold Disclosure: Held
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