Lucky: the market is testing support before it can continue on it's meery way!!!and MQG, in particular, is probably the best stock to watch for that!
What is happening here is that this is the point at which MQG went pear shaped last year. Price has a memory and traders are nervous creatures! no one wants to get caught! Traders are watching the 23.6 retrace because this is an important gague of trend strength......to see which way it will go
It's a no man's land! Bots are testing support and resistance for signs of weakness or strength! The size of the trades going through and the spread is a dead give away! Not a lot of money being made here right now!
It's churning to see which side, bears or bulls, will give in...., pretty unpleasant to get caught up in but it has to run it's course...
Low volume and narrow spreads preceed a strong move out of a range...which way though is the question!!!
It's prudent to wait for the direction to be clear IMO otherwise you just get caught in the washing macine slopp!!!
chart weekending 20/11/09, page-3
Add MQG (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
$227.95 |
Change
-3.250(1.41%) |
Mkt cap ! $86.88B | |||
| Open | High | Low | Value | Volume |
| $229.97 | $230.66 | $226.82 | $111.1M | 488.1K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 276 | $227.30 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $227.97 | 300 | 1 |
View Market Depth
| Last trade - 16.10pm 13/11/2024 (20 minute delay) ? |
| MQG (ASX) Chart |