Australia's largest stock trading and investment forum Australia's #1 stock forum

MNS

Click for more information

0.00%

4.2¢ magnis energy technologies ltd

MNS Chart, page-1111

First 1111 Last

Share
Profile

Follow
anf0

1,595 Posts.

100

11/10/18

16:14

Post #: 36088409
Share

Originally posted by anf0 ↑

Technically speaking, in order for the downtrend to be broken we need to see a break above 41 cents, a weekly close there at minimum and enough strength to remain above it going forward.

However based on the chart I see no reason to change sentiment. What you’re seeing is more likely another lower high in line with the trend, followed by the predicted capitulation. IMO that’s what needs to happen before a definitive bottom can be formed. As you can see buyers have been overrun at this level at every attempt to take it higher.
View attachment 1321749

Expand

The stock has made further lower lows and the capitulation phase looks to have begun. A couple of red weekly candles down to 20 will be in order IMO, purely off the chart technicals. Sadly broader market conditions will make life hard for the spec small caps going forward.

MNS Price at posting: 30.0¢ Sentiment: None Disclosure: Not Held
6 Upvote

0 Great analysis

Reply

Top Stories

MIN

MinRes's Ellison knows he screwed up – for that reason, hunt for new Chair to be sped up

History-making uranium sample grades and an imminent drill run. Infini Resources is poised to transform in 2025

ACW

This biotech stock raised $11M in a risk-off environment. Its Alzheimer's drug could change the game

CXM

'Taking money from the market': Garbage giant cleans up as this week's Hot Stock tip

WC8

Pan Asia rebranding to 'clear confusion' after bagging $35M for Chile projects

There are more pages in this discussion • 253 more messages in this thread...

First 1111 Last

Add MNS (ASX) to my watchlist

(20min delay)
Last 4.2¢		Change 0.000(0.00%)		Mkt cap ! $50.37M

Open	High	Low	Value	Volume
0.0¢	0.0¢	0.0¢	$0	0

MNS (ASX) Chart

Day chart unavailable