Here is my view of the short to medium term:
At the top there is a long term down trend which has accelerated twice. The last acceleration I drew the downtrend with a purple dashed line. Also a second peak is forming and I am waiting for a third peak to form to accelerate the down trend even further.
However, at the bottom you are also seeing a long term uptrend that has also accelerated twice. Really, the last accelerated uptrend was broken at $80.50 and we will see the second accelerated uptrend tested and it looks like it will be tested soon. If it does not consolidate then we will see a free fall and the original long term up trend will be tested.
What I like about the chart is that MQG looks like it is trading nicely within a fairly predictable range.
You said you were interested in my long term out look. So I will show you where those long term trend lines originate from.
My view is that if there isn't an uptrend consolidation in the $65-$70 mark then we will see an even greater free fall bringing in the original up trend into play at about the $30 level. I dont think it will come to this, but the technicals are really good as everything appears to be quite predictable and tradeable.
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Last
$199.03 |
Change
2.530(1.29%) |
Mkt cap ! $76.22B |
Open | High | Low | Value | Volume |
$197.71 | $199.03 | $196.45 | $296.9M | 1.511M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
3 | 4675 | $198.63 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$199.03 | 9713 | 4 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 20 | 198.400 |
1 | 383 | 197.500 |
1 | 350 | 196.350 |
1 | 250 | 196.300 |
1 | 276 | 195.810 |
Price($) | Vol. | No. |
---|---|---|
199.110 | 17 | 1 |
199.160 | 5 | 1 |
199.180 | 65 | 1 |
199.410 | 75 | 1 |
199.500 | 1285 | 7 |
Last trade - 16.10pm 21/06/2024 (20 minute delay) ? |
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