I noticed that little dip on the close too. I expect someone's books were falling off the table and needed to be balanced up. Not mine thank goodness. I closed out my last margin loan in 1994. I don't see this dip as significant at all.
The sell side at 10.5 and 11c is thinning out and healthy buyer interest continues. The volume is still high and is likely to remain elevated whilever an overhang remains from last year's cap raising. We've already seen one break above 11c but it didn't last long.
The question in my mind is how much volume is left in this overhang. I had predicted it would last a week. We probably need to see another couple of breaks above 11c before the price starts climbing towards fair value level somewhere between 16c and 30c depending on who you listen to.
What is the chart telling us? Any ideas?
MRX Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
