Technical look at Molycorp

by Josh Molycorp (NYSE:MCP) is pulling back on slightly lighter than average volume today. Shares resolved the descending triangle last week, powering higher right trhough the 50 day moving average. Shares are now pulling back. Bullish technical traders will be looking for a higher low to form in the coming days to confirm the breakout.

Bearish traders will be looking for shares to fail to print a higher low. Should the recent high in Molycorp (NYSE:MCP) prove to be a lower high, bearish traders would view that as confirmation of the downtrend.

Shares are above the 50 day moving average with the 200 day overhead.

52 Week Range $4.70-$19.99 Market Cap 1,272,861,824 Average Volume 8,948,704 Dividend Yield 0.00% Institutional Ownership 61.40% Insider Ownership: 2.40% Percentage of Float Short 25.80% Beta 4.09

Molycorp, Inc., is a rare earth company. The Company’s business is organized into four reportable segments: Resources; Chemicals and Oxides; Magnetic Materials and Alloys; and Rare Metals.

Articles