MAY melbana energy limited

Ann: 2024 AGM Chairman Address and Company Presentation, page-87

  1. 4,068 Posts.
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    The trend of this stock has been down since it peaked at 21..5 cents 2 1/2 years ago.
    It has made some lower highs on the way down.
    Eg: Aug '23 hit 12 cents
    June '24 it hit 7.9 cents
    Sept '24 it hit 4.1 cents

    These are all lower lows on the weekly charts and the down trend has been strong for over 2 1/2 years

    The only thing being flushed out are unsuspecting buyers.

    Something will need to halt the long term trend from 21.5 to 1.8 before the recent run to 4.1 and now the probability of hitting 2 cents and perhaps 1.8 and lower again.

    Apart from the small spasmodic spikes, there has been nothing to suggest the trend is going to change or there is any major upside.
    Last edited by 4sighttrader: 20/11/24
 
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(20min delay)
Last
2.3¢
Change
0.001(4.55%)
Mkt cap ! $77.51M
Open High Low Value Volume
2.2¢ 2.4¢ 2.2¢ $72.25K 3.148M

Buyers (Bids)

No. Vol. Price($)
21 4707267 2.2¢
 

Sellers (Offers)

Price($) Vol. No.
2.3¢ 1099217 2
View Market Depth
Last trade - 16.20pm 24/06/2025 (20 minute delay) ?
MAY (ASX) Chart
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