On the left the old chart, indicating what should happen if MFC was an indicator for a bull market. We did get the bull market but MFC itself did not participate as much as it should have. By now it should have been trading at or near the old high of $26 so it is about $8 short of that. In the mean time SLF and POW are much closer to those levels. Seems to me that ……
The stock may be tracing out a small triangle that would , perhaps , give it a bounce to $20+ but I would abandon the stock now or , at the very least use a very tight stop. The real question now is should this approach be applied to the entire market as a whole. Buy some HXD just to play it safe.