On the note of buying/selling, here is a bit of TA for you all.
Last week was a fantastic week fo MGT and as previously posted I believe 2.7c was our pivot point to set a range (shown as blue line), with last Friday giving us with what seemed to be a bearish engulfing pattern presenting itself (shown as red circle) and indicating a trend reversal, it was great to see NO confirmation of this followed on the lower volume Monday, finishing with a long legged doji (shown as green circle) indicating an undecided market.
We saw a strong bounce off last mid week highs of 2.3c range, both on last Friday and Monday indicating new monthly support at these levels (shown as red line) and tested 3 year highs at 3.7c (shown as green line). Note: this resistance has been pretty consistent in previous years when entertaining this range.
In conclusion, IMO with support volume building in the lower range of 2.3-2.7 and the quick bounce we saw off the bottom of this range in 2 consecutive days of some decent accumulation, the possibility of continuing this run or consolidating in the higher range of 3-3.7c has a strong plausibility.
also here is the chart I posted couple days back before the run to 3.7 indicating the ranges I have referenced above and obviously confirming thereafter with the run to 3.7c.
and just for those who want a little extra here is a long term trend analysis chat based on 55sma and 20ema on
IMO future looking strong many good months/years to come if all goes to plan
Not financial advice, DYOR GLTA![]()
MGT share price, page-1879
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Last
30.0¢ |
Change
-0.005(1.64%) |
Mkt cap ! $29.53M |
Open | High | Low | Value | Volume |
30.5¢ | 30.5¢ | 29.5¢ | $34.05K | 113.2K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 19957 | 29.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
30.5¢ | 67224 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 19957 | 0.295 |
7 | 85495 | 0.290 |
2 | 10107 | 0.285 |
2 | 28140 | 0.280 |
2 | 13636 | 0.275 |
Price($) | Vol. | No. |
---|---|---|
0.305 | 67224 | 2 |
0.310 | 10000 | 1 |
0.315 | 52000 | 1 |
0.320 | 18114 | 2 |
0.330 | 33657 | 1 |
Last trade - 16.10pm 11/07/2024 (20 minute delay) ? |
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