MAG 3.51% 5.9¢ magmatic resources limited

MAG Chart, page-268

  1. 816 Posts.
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    Although technical analysis is to be taken with a grain of salt when applied to a very news sensitive, volatile, junior company, I thought I'd give it a little shot.

    Here is my current reading of the chart. 2 key supply-demand areas/zones with a 5 wave Elliot wave structure possibly coming to an end. E wave looks to be ending with a terminal wedge which is a bullish structure. A break above 15c with retest will confirm upward momentum has taken hold. From there the chart will be ripe to scream higher directly to 38c on some nice results from Lady I.

    https://hotcopper.com.au/data/attachments/3329/3329273-19a7dd854854ebc66d0bfddd594cb080.jpg
 
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MAG (ASX) Chart
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