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4.2¢ magnis energy technologies ltd

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ogloko

1,110 Posts.

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17/07/23

16:59

Post #: 68828455
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Originally posted by ogloko: ↑

Obviously looks rough...... Short term....... it's in a channel trending down and found resistance both the top of the trendline and on the moving average - quite interesting is that the moving average is starting to line up with the upper trendline in the channel....... The stock can't seem to break through either......

Short term low 12 cents and if/when that breaks next support (looking way back over the last few years - see long term larger picture chart) is at 9.6 cents since there isn't any support anywhere here short term....... Could test and find the bottom at 12 cents who knows but like I said next support I've got is 9.6

You can't see it above but there's a gap at 11 cents way back 15/16 July 2020 that could easily fill now - the saying is most gaps fill eventually........

Hard to see a bottom right now pretty much trying to catch a falling knife/throwing money into an empty pit so to speak. Unless you're averaging down which I'd be scared to do right now - would go against my personal investment strategy/process.

Make of this what you will @TopSahara

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Interested to see what @JabraD chart prospective is.......

MNS Price at posting: 13.5¢ Sentiment: None Disclosure: Not Held
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