Price pushed up this week, and briefly entered what appeared to be (on paper) a potential zone of resistance above, before eventually closing for the week, in the relative safety just below.
Interestingly, volume for the week was reduced over the previous, and was only a touch above average overall.
This suggests there was very little supply was drawn out as price moved into the zone above, and this was confirmed when looking at the smaller timeframes. So at this point in time, it appears resistance may be relatively light, and suggests that the expected sellers at this level, may have already done so.
MND's correlation with the XJO (S&P ASX200) is not particularly strong at the best of times, but it appears that price mainly pulled back from the highs this week in sympathy with the overall market, and not necessarily because of any serious supply issues at this level.
MND Weekly
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MND Technical Analysis, page-19
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Last
$12.42 |
Change
-0.010(0.08%) |
Mkt cap ! $1.222B | |||
| Open | High | Low | Value | Volume |
| $12.45 | $12.50 | $12.30 | $2.678M | 215.8K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 552 | $12.41 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $12.43 | 360 | 1 |
View Market Depth
| Last trade - 16.10pm 15/11/2024 (20 minute delay) ? |
| MND (ASX) Chart |
