Its being shorted because of its recent historical volatility - its a perfect cyclical hope-dispair speculative stock. You will probably see resistance again around $3.25 - $3.46 where the technicals are strong. Once its pushed through this level, it will be off to the races. Its long term technicals are forming a similar price action pattern as its run up to $10 and complementary to the timing of pending annoucements.
Technically, despite it not having pushed through the major resistance prices above yet, its hard to find a better long term setup scenario.
- Monthly 12, 36, 60 MA cycle cross over ocurring. Very similar pattern to 2010 - down to the months.
- MACD monthly fast and slow cross over the Zero line indicating very bullish behaviour. Very similar pattern to 2010 - down to the months.
- Major Triple bottoms ~$1 - Jun '16, Dec '18, Mar '20 on a 6 monthly cycle rhythm.
- Remains inside the rising monthly channel despite the market drawdown.
- Volume participation is in a significant upward trend, confirming technical and FA indicators.
MSB Trading - 2020, page-5299
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Last
$1.00 |
Change
0.023(2.30%) |
Mkt cap ! $1.150B | |||
| Open | High | Low | Value | Volume |
| 99.5¢ | $1.02 | 99.0¢ | $4.188M | 4.173M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 30 | 25488 | $1.00 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.01 | 109210 | 16 |
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| Last trade - 15.00pm 28/06/2024 (20 minute delay) ? |
| MSB (ASX) Chart |