For 20 years I have thought MBL have been playing a dangerous game, and I'm pleased to see them getting a bit of a comeuppance.
Anyway, they have been stellar performers since they listed around $6.70 in 1996. They finished a third wave up in Sept 01 and have been correcting ever since, down to a level which ought to be no lower than $22.40. $23.20 is a big Fibonacci support area for several reasons, so that ought to be the bottom.
So the short answer is that MBL has probably posted a significant bottom. The reality is that it probably wont rocket off it and there may be a retest.
