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4.2¢ magnis energy technologies ltd

MNS Chart, page-1128

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Cabbie

6,532 Posts.

34

13/11/18

15:40

Post #: 36487395
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Originally posted by MaxAction: ↑

IMO the MNS chart doesn't need any deep thinking technical analysis, because if 36.5c remains the high of the current move, it does simply represent another lower low in a long lineup of lower lows (and lower lows)! In order for SP to post a higher high, MNS requires to get to 40c+! Unless this is achieved in the not too distant future the prevailing downtrend remains in place. The question now is will there be another lower low, once the previous 27c low is challenged? If so what is the aim and when will it be in place?

BTW, an old rule suggests, that any stock with its SP action below the 250 EMA simply doesn't make investment grade! The MNS daily chart currently has the 250 EMA running at 39.61c. So there is your target - enough said!

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Interesting @MaxAction, perhaps we should let a few Index Fund managers know about this "old rule" - I'm sure they wouldn't risk investing in TLS, MPL, WBC, MGR, NAB and LLC to name a few that are trading at less than their 250 ema. I assume you meant the daily price action.

Last edited by Cabbie: 13/11/18

MNS Price at posting: 34.5¢ Sentiment: Hold Disclosure: Not Held
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0 Great analysis

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