same thing I said yesterday, I thought it was pretty clear.
Without wishing to do a new chart every 10 minutes, this is the chart of price movements recorded every 5 minutes since the 17th of November to 11:10am today.
Basically the top blue line is as far as price got, the bottom blue line is as far as price declined, and the middle blue line is the middle of the other 2.
Notice how price held up above the middle blue line, till the US lost ground last night. My bet was that if price could hold above the middle line on a closing basis, it would probably exceed the top blue line.
I also said yesterday that this has nothing to do with the inherent value of the company or it's prospects. It is simply what the crowd of market participants are prepared to pay for 1 share at any given point in time, which can be influenced by many different factors. In this case I think that you might connect the decline last night in the US market, the decline in todays ASX, and the retrace ( possibly temporary) of MRM.
Please also feel quite free to ignore the chart, or any patterns within it. I am not trying to convince you of anything. I was simply having a conversation, using illustrations, with a friend on another thread which happens to be cross linked to this one.
MRM Price at posting:
$2.89 Sentiment: None Disclosure: Held
