re: Ann: September 2009 Quarterly Activities ...
Well Pencilin, today was the results we've all been waiting for imo. Strong close up at the end of trading to finish at 1.31 (see chart below), closing for the 1st time above the key resistance level of 1.26 that has been tested twice before and failed, and was pushing against all week this week.
Looks like the solid quaterly report is what was needed to finally give it that leg up that it needed.
The blue line on the chart at 1.70 is the next resistance line established in October last year, so there is now clear space for the price to run.
The supporting technical indicators all look bullish, so it will be critical now for the price to remain above 1.26, and I would expect to see some increase in volume would be needed as well. If we get negative leads from overseas markets in the next few days this support will be immediately tested, so if it survives that, then we should be pretty comfortable that its onwards and upwards.
Cheers and good luck all holders, Sharks.
MGX Price at posting:
$1.31 Sentiment: LT Buy Disclosure: Held
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