Grabbed a few at the .32 point that I mentioned prior, but a Tuesday close above the support @.335 , alongside around ma volumes, will be more welcomed.
.365 has a little more resistance, as well as .425, so we might see a little selling pressure around those points by long time holders, who may want to clear positions at break even, but hopefully though, they will be cleared quickly if there are willing entrants waiting on the sidelines. I will likely be at full risk above. 44.
Will need to look at my charts again, but think .55 and .80 are strong resistance levels, as well.
The buyback is a sign of green shoots IMO, but it is just a start. Suspect that there is still strong interest in future guidance, especially with the current perceived elevated revenue inflows from the rising tin prices and AUD weakness.
Would be great to see a few larger cross trades with OP, too which will help alleviate some of the selling pressure tensions felt by themarket.
My trading platform is completely separated from my other active accounts, so will try to post a few of my basic TA bits n pieces over the weekend, simply to see what may happen as the sp starts to move northwards, and for others to pick over and give alternative opinions.
With your fundamental skills, what are your thoughts, with 10 % less shares on offer?
MLX Price at posting:
33.5¢ Sentiment: Hold Disclosure: Held
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