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39.5¢ magnetite mines limited.

Ann: Consolidation/Split - MGT, page-310

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Orey7895

831 Posts.

316

03/01/23

19:20

Post #: 65515210
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Originally posted by Turiddu: ↑

You're really not going to like what I see in the chart. I'm working off of the weekly chart and everything I'm about to say assumes there is no upcoming materially impactful announcement:

1. We've broken the support / old high set in August 2020 (.875)
2. We appear close to losing support of .675 which is an old low / high set in 2017
3. Looking to the left the next support level is around the .33 which is from an old high / low set in 2020
4. RSI is still in a weekly downtrend

The trend is down and until there is a higher low and higher high (on the weekly) the most likely result is continuation to the downside.

If we lose .60 the next likely area for the bulls to defend is around .50

I don't see much support between .60 to .30 so a retest of the .30 area is a possibility HOWEVER penny, tech, bio tech, non revenue making stocks have all taken a beating through out 2022 and you would think a pity rally wouldn't be far away

NASDAQ and SPX are looking to put in a bottoming formation so maybe the start of the end of the bear market?

I think for MGT we have another leg down to around the .50 area and at worst .30

Expand

Hopefully Q1 brings some significant news to prevent this happening

MGT Price at posting: 61.5¢ Sentiment: Hold Disclosure: Held
2 Upvote

0 Great analysis

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(20min delay)
Last 39.5¢		Change 0.010(2.60%)		Mkt cap ! $38.88M

Open	High	Low	Value	Volume
38.5¢	39.5¢	38.5¢	$3.702K	9.489K

Buyers (Bids)

No.	Vol.	Price($)
2	9617	38.5¢

Sellers (Offers)

Price($)	Vol.	No.
39.5¢	9723	2

View Market Depth

No.	Vol.	Price($)
2	9617	0.385
1	6000	0.380
1	26794	0.375
4	85585	0.370
3	20000	0.360

Price($)	Vol.	No.
0.395	9804	2
0.400	15706	3
0.405	5597	2
0.410	4250	2
0.415	40000	2

Last trade - 11.19am 30/05/2024 (20 minute delay)


Last 38.5¢			Change 0.010 ( 1.28 %)
Open	High		Low	Volume
38.5¢	38.5¢		38.5¢	3066
Last updated 10.41am 30/05/2024 ?

MGT (ASX) Chart

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