MAT

MAt can be classified as a failed breakout, since it went quite far beyond the previous high, but fell right back and closed below it. Price relative and CMF we both pretty weak, which was a red flag. This was not on earnings, so it didn't get the volume it needed. One odd thing here is the gap down on earnings a couple of months ago. It almost immediately reversed and filled in the gap almost to the penny before consolidating. Normally a stock in an uptend that gaps down on earnings takes at least a couple of weeks to reverse; this one did it in 4 days. I'm not sure that has any significance, but it is something that sticks out.