Vail Resorts Inc.(MTN) could show further retracement

Vail Resorts Inc. (NYSE: MTN) has nosedived below its 20 days and 50 days exponential MA over the past four days on high volumes, to witness a correction of 17%. This confirms the weakness in MTN stock, and MTN may not stabilize before retracing till $30. It would be advisable to take a long position only after the starts first signs of improving from lower levels.