MINT : Downside risk to 8 or so, worst case scenario nearer 6
September 26, 2011 Leave a comment
MINT has a clearly defined month chart head and shoulder pattern, and it’s already broken the neckline. Even if it does not fulfill the textbook pullback (to about 6) there is certainly room for a move to nearer 8, with 8.8-8.9 last support before things get truly ugly here.
It may first rebound to 10.4-10.5, maybe 10.8, but unless it somehow manages to rebound and close on a weekly basis above 12 we fear the trend will drive the stock to significantly lower levels in coming weeks.