MAY 3.57% 2.7¢ melbana energy limited

May Chart, page-10487

  1. 14,362 Posts.
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    Welshy I’m not booted up to display but check out the volumes at those .115’s. There’s just not a skerrick of strength there and supply has flooded in every tag.
    So from a TA point of view it indicates a perfect top of range. From a fundies point of view it would be worrying being apparently so close to a major announcement but let’s let not get into that.

    If anyone has been taking notice of the order spread, there’s more and more retail loading sells therefore bigger buyers could swipe if they were wanting to build a position but it’s attracting very little interest for them to do so.

    That ol magnet at .105 sure is a doozie and potentially builds for a stronger breakout , exactly what W3 and Princey are working on. Bring on wave 3.

    Cheers.


 
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