MNS December Chart Discussion Thread, page-25

The local XJO is woefully under performing US indices. Magnis resources is a listed company in the Diversified Metals & Mining (XMM) sector of the ASX. The XMM sector has been one of the better performers this year, as the below chart shows; the black bars above are the XMM, the blue line represents the XJO broader market, and MNS is represented in red.

MNS has been a rank under performer this year...  -36.69%. You would have been better off with your money in a managed XJO fund.



I would be surprised if any  institutions will be interested in backing a CR at this rate. They want winners not losers.

MNS currently trades below both it's 50 and 200 day MA's. Since both MA's rolled over mid March of this year bad things have happened to MNS price ever since. Not a good look. It will take a big turn around from here to convince an institution to back MNS IMO. They do look at charts.


Maybe banks will back MNS? We will look into that possibility shortly...