G'day slick, That's one serious sell off. Haven't looked at the FA, but this would be a proceed with caution, and or wait until TA displays a very clear reversal. Big volume on friday too. why?
RSI of 12 is extremely rare and suggests to me distress selling. But why? And yes I have seen it before, but years ago, and not on MIN. Never seen below 10 and this could do just that this week with EOFY panic selling.
RSI of 20-15 is common, once it breaks 15, an investor or trader really needs to look for for other indicators and ask "why would I invest in this stock?"
I note that the expected support zone is at $52.50. I'd be looking for a reversal candle (tail or dragonfly doji) and that the candles to trade back into the BBs.
For a flip trade maybe, but I would invest on 12, probably not.
All the best. Cheers
$100 share price, page-268
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$57.88 |
Change
0.980(1.72%) |
Mkt cap ! $11.37B | |||
| Open | High | Low | Value | Volume |
| $56.90 | $58.58 | $56.80 | $33.55M | 577.9K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 291 | $57.85 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $57.88 | 4279 | 3 |
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| MIN (ASX) Chart |