Last week, I suggested looking for CMG to find support around 420, but price action has cracked this support, suggesting that CMG will continue to slide, perhaps to 400. In fact, I think price will consolidate around 400 and reach down to the support pivot around 395. CMG Daily Chart(click to enlarge)6/23 Price Action:- There was some stickiness around 420, but price action on Friday suggests bearish continuation.- It was a bearish engulfing candle.- The fact that the market continued the downtrend at the end of the week suggests that momentum is still strong downwards.394 Support:- The daily chart shows that there is a common support pivot at 394. - We can anticipate downside towards this support and perhaps some stickiness around 400 heading into CMG's next earnings report to be released on July 20.