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4.2¢ magnis energy technologies ltd

I totally agree max, but I can say it in a sentence, it might go...

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sirrobbo

1,261 Posts.

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14/02/19

21:01

Post #: 37442135
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Originally posted by MaxAction: ↑

31.5c low for the day and for a minute I thought the 31c gap was going to close, because the appropriate offer had been set, however in that last minute or so, an IMP very opportunistic bid for 500 share came in to lift SP back to 33c. Anyway I guess tomorrow is another day to go that 1/2 a step further.
Be that as it may, there is obviously some support around these levels, because SP has now tested the 50 EMA (dark green line) twice and today touched the Fib 50% retrace level. Also the RSI has reached 49.93, but would have been lower intraday, so will SP possibly get help from there for a temporary bounce?
By now the 20 linear regression curve (red) has finally crossed the 40 LRC (blue) as well and as it happened exactly at my previous rising channel line! Personally though I thought a little late for a selling signal. Each to their own!
View attachment 1446425
After possible smaller bounce here, I'm pretty certain the gap will be closed and IMHO in the not too distend future, however then the question remains if 31c will hold, if SP is going to challenge the 25.5c low or is on its way to possibly another low low!
Only time will tell!

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I totally agree max, but I can say it in a sentence, it might go up or it might go down.

MNS Price at posting: 33.0¢ Sentiment: Buy Disclosure: Not Held
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