MGX 4.62% 34.0¢ mount gibson iron limited

Hi miki, yes they play on human emotion, drive the SP down and...

  1. 4,045 Posts.
    lightbulb Created with Sketch. 1
    Hi miki, yes they play on human emotion, drive the SP down and down and down relentlessly, trying to force the little bloke to panic and sell out.

    Then they take a breather and it seems like the SP is recovering, the little bloke buys back in thinking the bottom is in (note the recent run from 61.5c to 90c+). Then they push it down again to trigger stop losses and force more panic selling as the SP hits a lower low.

    IMO best to wait for a confirmed higher low and follow them up.

    As you say, it's all a game to them using other people's $$$. That $$$ is their power, they can afford the volume and therefore can dictate the SP.
 
watchlist Created with Sketch. Add MGX (ASX) to my watchlist
(20min delay)
Last
34.0¢
Change
0.015(4.62%)
Mkt cap ! $413.9M
Open High Low Value Volume
33.0¢ 34.0¢ 33.0¢ $1.090M 3.281M

Buyers (Bids)

No. Vol. Price($)
2 42619 33.5¢
 

Sellers (Offers)

Price($) Vol. No.
34.0¢ 411301 5
View Market Depth
Last trade - 16.10pm 11/10/2024 (20 minute delay) ?
MGX (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.