Prices are hanging on, albeit temporarily, to the 200-day moving average at $13.77. Any further rebound meets with resistance at $14 to $14.20. An eventual break, spurred on by the continued decline of quarterly momentum, would cause prices to ease back towards the $12.80-to-$13 support area.
There has been some selling, as evidenced by volume expansion as prices drifted lower. In addition, the 50- and 100-day moving averages made a dead cross at end-October, at $14, an earlier breakdown level. Immediate resistance is at $13.80.
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