MSB - ASX Charts, page-6

First 6 Last

Share
Profile

Follow
Wilba32

6,969 Posts.

1535

27/11/23

22:16

Post #: 71134828
Share

Originally posted by Asxcharts: ↑

27-Nov-2023 : Keeping it Simple with Price Action & Technical Analysis..

As a Technical Analysis hobbyist, I am many times amazed by the stories that Charts tell, given you know the language to understand the story. And sometimes, it's always better to take a long bird's view of the story, which gives you a better idea of the terrain that the stock is charting.

Checking on Marketscan site today, MSB is the 10th shortest stock on ASX. Now, that's a stock that is in need of some love.
And looks like, love is on the way. So probably, shorters need to get wary now.

Let's see what "my" eyes see when I look at the charts on a 2- month timeframe.
* MSB had a dream run between Nov'2009 and May'2011, with the stock jumping 700% in around 1.5 years !! What happens when you run a car at full throttle for too long ?? It peters down. And so it happened with MSB.. The "Smart Money" handed over the keys to the "Weak Hands", and the stock since then has corrected back to where it was back in Jul'2005.
* To those who are admirers of the Waves, it looks to also have completed or close to completing the ABC wave.
* Now look at the HUGE volume in the month of Jul-Aug'2022. It doesn't make sense to beat a dead dog !! Or does it ?? Well yes, if you are convinced that the dog will revive with more beating And so it seems to be working for MSB, with the Indicators showing
a positive divergence ( Not shown on my charts though - DYOR )

This is still a highly shorted stock. Tread carefully and do your own analysis... My analysis can have mistakes, so DYOR and DO NOT TRADE WITHOUT A STOP_LOSS.

Expand

Very festive looking!

MSB Price at posting: 40.0¢ Sentiment: Buy Disclosure: Held
1 Upvote

0 Great analysis

Reply

Top Stories

NVU

Nanoveu surges 10% after benchmark testing for new AI chip begins

IRX

InhaleRX snags $38.5M in funding from VC biotech funder Clendon

SWP

Swoop lobs $18M offer at microcap telecom Vonex – in which it holds 19.9%

MKT

The ASX can overlook its Telecomm small-caps. Here’s one diversified brand with an international footprint

M4M

Macro, Norden set up transport solutions initiative for West Pilbara

Week 42 Wrap: HotCopper's top picks; new ASX 200 record; world yawns at war

TLG

Talga Group wins key permit for flagship graphite mine in Sweden

What's causing the cost-of-living crisis, and how to navigate it

SNX

Sierra Nevada raises $2M for silver exploration at Blackhawk

MTH

Mithril's drilling in Mexico picks up silver at 997g/t, gold at 28g/t