I am curious to know what prompted you to state; "....but I think she will turn...its obvious the shrters a pushing this down...and they will have to cover very shortly hehehe,...."
MAP's SP has been forced down all the way from its $4.65 peak on Oct18 2007 to today's low of $2.39 [a loss of 48.6%]. It has fallen through ~130% of Fib retrace from the 24/8/06 low relative to the 18/10/07 high. This also equates to a GANN ABC retrace of 115% based on 18/10/07, 22/1/08 & 4/2/08.
My analysis suggests MAP may find Fib / GANN retrace level support at $2.27, $2.18, $2.14, $1.97, $1.90 & $1.75.
IMHO Macquarie's extraction of huge payments from this satellite & its high leverage [CommSec says D/E is 257%] is what has triggered investors' desertion of MAP - SH equity has been vaporising! There were almost 1m overseas cross trades during the auction - shorters positions bought back perhaps but indicative of just how exposed Aussie stocks are at present.
4YIO - NFA
MAP Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
