MNS 0.00% 4.2¢ magnis energy technologies ltd

MNS Chart, page-1190

  1. 298 Posts.
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    Looking at RSI Failure Swings again, may I suggest that the following MNS chart, does show a RSI Failure Swing Top. I took the liberty to mark the sell points, the last one today coinciding with the break of a rectangle pattern to the downside. If I were in the shorting game, which I'm not, this would probably a good selling point, however the low volume shows there isn't really the enthusiasm behind it. So the question now is how far this down leg will reach. I wouldn't be at all surprised to see a test of 30 to 29c near term. In other words the centre line of the larger falling channel.https://hotcopper.com.au/data/attachments/1371/1371421-d67002da7b096a70102609dccc4185af.jpg
    As can be seen the RSI only just crossed the 50 level so theoretically there is still quite a lot of room available for further downside. That's if one is holding a bearish view of MNS. I'm not sure if anyone is interested discussing any downside targets or would like to presenting a bullish case instead?

 
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