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0.2¢ monax mining limited

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dleb

2,256 Posts.

16

08/08/16

14:05

Post #: 18468477
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Originally posted by TheArchitect ↑

Daily chart looking good

It's still being re-rated but now settled itself and is in an accumulation channel, where it's support base is 2c which it's now bounced off 3 times in the last trading days, where the last two candle have shown it's tried to go down but selling was exhausted and the lower prices were rejected with buyers coming back in to take it up.

At the same time it's struggled to also break 2.3c which is becoming a short term resistance level, which is fine, as it's being re-rated and needs to take rests and distribute shares to new holders and allow accumulation before making a further leg up in order for that to be sustainable.

Volume is decreasing though suggesting supply is drying up and therefore buyers will need to start paying up if they want in.

News still to come and the MC is still so small here that's the key and has lots of room to move on good news.

Will fluctuate up and down because it's a volatile stock and getting re-rated along with large parcels being bought up last few trading days and in accumulation mode.

EMA and MA are trending up and closely aligned.

See how this weeks trading goes and tomorrow.

View attachment 216498

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Was there a Gap at 1.9 ?

MOX Price at posting: 1.9¢ Sentiment: Buy Disclosure: Not Held
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0 Great analysis

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