I have a very simple trading strategy with this stock but it seems too easy to be true. Knowing that the price currently fluctuates between 1.1c and 1.2c and has support at 1.1c. If I buy at 1.1c ( enough to cover transaction costs) and sell at 1.2c, won't I be profitable? This is probably a very noob question but will it work and if not why?
MGT share price, page-144
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Last
41.0¢ |
Change
0.025(6.49%) |
Mkt cap ! $40.35M | |||
| Open | High | Low | Value | Volume |
| 38.5¢ | 41.0¢ | 38.5¢ | $34.18K | 85.71K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 245 | 39.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 41.0¢ | 35933 | 2 |
View Market Depth
| Last trade - 16.10pm 30/05/2024 (20 minute delay) ? |
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Last
40.0¢ |
Change
0.025 ( 2.56 %) |
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| Open | High | Low | Volume | ||
| 38.5¢ | 40.5¢ | 38.5¢ | 18625 | ||
| Last updated 15.43pm 30/05/2024 ? | |||||
| MGT (ASX) Chart |