Ngl really interesting here because I honestly never really bought into the under 20c narrative (never put a price prediction on this stock) but the chart looks shocking
If all commentary is welcome? Then.........
- Lowest close and lowest price since July 2021 (yellow)
- For the last 8 weeks it closed lower than the previous each time (completely missed this) - this is now the beginning of the ninth and down 45% from that week's open to today's close
- Gap at 0.25 which looks like it wants to fill and almost did today (blue area and can be seen clearly on the daily) - Then if you're a subscriber to the "all gaps eventually fill" school of thought there's on sitting down at 0.11........ Honestly that sounds crazy to me but I guess we've seen crazy gaps fill in the even recent past (zip apx come to mind off the top of my head)
- Has now broken weekly 200sma support that had previously held
- Next support for me is 0.24 - lets see what it does there....... Then see if 0.20 and below looks on the cards
It'll be very interesting to see how this tracks over the next few weeks specially with a whole wide range of factors coming in to play soon (both "bullish" and "bearish", and internal and external)
*Not investment advice here just throwing some thoughts out after seeing the above + current markets/economies conditions, please think about an investment strategy from here (for all stocks not just mns) if you haven't got a proper planned out strategy (both buying and selling) as of yet as the market conditions look rough going forward. Those "Dollar cost average", "It's cheap", "I'm loading up on weakness", "Buy the dip", "Average down", "Diamond hands" etc strategies aren't always the best one especially in such hard market conditions where spec stocks get thrashed and some, not all, but some may never return........ Imo liking and believing in the fundamentals of the business doesn't always mean the best investment decision would be to "load up" on the way down..........
Not at all calling myself a perfect investor here (Far from it really - I've made plenty of mistakes, still am and I bet will certainly do in the future) but honestly as much as that "save holders" narrative gets thrown around (and I'm not trying to - I'm just trying to get some thoughts out there), I don't like anyone losing money especially when you hear about how much money people do have invested in some high spec stocks. So do think about your investing decisions please
*Note 2 putting all the bickering/back and forth aside for just a moment I do hope it doesn't drop too much further for holders sake and that it does bounce/hold........ hopefully this is the low because we all know how hard it is to hold when you're in the red or even seeing profits slowly disappear......
(20min delay)