it's neither :). I would class this as a consolidation breakout. Possible confirmation signals are a bounce off 25cents and/or a convincing break past 28.5c. I would anticipate an uptrend after that.
Chartwise i like the risk/reward in this play, and the market depth appears to have a lot of interest on the buyside,
Fundamentally, the company looks interesting but would like to see +ve cashflow this quarter. Balance sheet is worrisome with $7m in Current Liabilities. I like to see companies deliver on their promises. MUN is at a turning point, and those getting in now are getting in early. I hold as a speculative play, and giving management the benefit of the doubt.
Corporate actions are a possibility (see the TRY thread). More likely is steady mining, hopefully with reserve upgrades.
Joel HST, BDG, MUN
MUN Price at posting:
26.7¢ Sentiment: Buy Disclosure: Held
