MND Monadelphous: @soccer5
I endorse your comments on this one Captain. I've analysed MND previously on this forum but haven't traded it since it started it's run up in March 2016 and it's a bit late now to get set.
Previous posts tracking this were:
April 2015 https://hotcopper.com.au/posts/15114745/single
August 2015 https://hotcopper.com.au/posts/15845044/single
On the current chart below, I haven't added notations but you can see this is trending up in a Wave 1 (orange trend line) but coming up to a resistance zone in that $14 - $15.30 area. I haven't tried to narrow that zone further yet. Happy to let it top out where it will and retrace and take a position after that.
It's in a new bull run anyway. This is an Elliott Wave 1, once it peaks, Wave 2 is normally a good 61.8% retrace. It can be shallower, but Wave 2's are pretty consistent, so I'd prefer to wait for that to complete. It should take the rest of 2017 and into 2018 before that occurs. Then early 2018 should be the optimum time to get set in my view.
The Big Boys, page-873
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Last
10,423 |
Change
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Mkt cap ! n/a | |||
| Open | High | Low |
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