MFN – Minefinders (Last:9.48)

Minefinders (MFN) price chart with targetsSomeone in the chat room yesterday seemed to despair of the possibility that Minefinders Corp. would ever reach targets at $15 and $21 proffered by another guru.  From a Hidden Pivot perspective, both of those targets are out of range for now, and there is no stretching the evidence to suggest otherwise.  The picture would brighten, however, if MFN eventually succeeds at something it conspicuously failed to do last November and again in January — i.e., surpass the 12.14 high recorded on the way down in July 2008. The good news is that the weekly chart is currently building on a bullish impulse leg with the potential to get MFN to as high as 11.89 over the next 6-10 weeks.