MAY 9.09% 2.4¢ melbana energy limited

May Chart, page-6478

  1. 6,481 Posts.
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    I see it going lower.

    There is precedent for it going lower. If you look at the run, even from the 30/11/2022, the stock was running on the same fundamental information, and around the 13/12/2022 there was a pull back of 20%. Therefore this current dip of about ~5% is insignificant in comparison. Therefore, based on precedent, according to the same run, based on the same information, the same stock did have a pull back of about 20% previously. If you marry that with the fact there is a 10,480,778 share wall at $0.105/share... and that the revised time line for drilling to commence is: If "Drilling to commence Q1 2023" means it can be drilled on the 31/03/2023, that is 11 weeks. 65651791 I think savy traders may understand that impatience, and the walls of shares at ~10.5c, and the absence of news may be a recipe for a ~20% pull back as had happened in the past on the 13/12/2022.

    https://hotcopper.com.au/data/attachments/4966/4966596-366b93a04574aa8ec351848e6b8ca463.jpg

 
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Last
2.4¢
Change
0.002(9.09%)
Mkt cap ! $80.88M
Open High Low Value Volume
2.2¢ 2.4¢ 2.2¢ $180.9K 7.947M

Buyers (Bids)

No. Vol. Price($)
18 1194281 2.3¢
 

Sellers (Offers)

Price($) Vol. No.
2.4¢ 4337888 13
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Last trade - 14.27pm 15/07/2024 (20 minute delay) ?
MAY (ASX) Chart
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