Hi all- funny old chart thread without a single chart posted for...

Hi all- funny old chart thread without a single chart posted for the last two pages! Haven't checked on MYX for quite a while, so just popping in to say hello, and thought I might as well post a couple of charts.

Following is a daily then a weekly chart to give a bit of larger time frame context to the current position, with a bit of commentary for anyone interested. My charts are less about crystal balling about future price points, and more about reading the background of the chart to identify changes in behaviour and important levels. These "lines in the sand" can be gauge strength or weakness based on whether price succeeds or fails in getting through them.

Obviously during a long term downtrend like MYX's, I'm looking for anomalies that might suggest a bullish change in behaviour, that could potentially lead to a price rise- whether that ends up being a short term retracement or a longer term change in trend. MYX has demonstrated that it is still capable of some pretty decent up moves within the longer term down trend so I'll have to keep a closer eye on it. There's many TA techniques that can be used on their own or combined to identify anomalies, but the single most powerful or reliable I've found is momentum divergence. Oscillators such as RSI, CCI, OBV, Money Flow etc all do a pretty good job but I prefer one that includes volume in the calculations rather than just price, but the main thing is to get used to your preferred oscillator and how it behaves in certain situations. There does not need to be divergence before a price rise or fall, but when momentum divergence does appear it is pretty much always followed by a move of some sort against the preceding price action.

So first the daily chart, where price has been forming a volatility contraction wedge or triangle type of pattern. Whether it will resolve as a continuation down price movement or a reversal/retracement might be better answered by those who own a crystal ball, but at the moment a couple of bullish divergences suggest that there's at least some buying interest stepping in. This is confirmed on the following weekly chart which shows a lot of volume coming in at the bottom of the latest large move down and clocking a bullish divergence on the higher time frame chart.

Anyway, some food for thought and I hope there is some of interest! Cheers, Rooster.