Before Friday night our time, the US market had fallen four days in a row. MNB held at even for two days and then climbed the next two days. That was despite a large fall on the ASX on Thursday and a 0.4% fall on Friday. On Friday MNB was up 7% on average with a 14.5c VWAP and closed up 3.7% at 14 on lower volume on the close. So MNB has had strong support and/or a lack of sellers at 13c and is showing a lot of resilience in what has been a bear market in the US and a bear market for ASX small caps. Below is the MNB chart (bottom) vs the US S&P500 (top). What an out-performance for MNB over the last 6 months - and for good reason. Wait for the next sustained rally. IMO it will be well worth waiting for and probably around a 10-15c move over a couple of months. There might be a few false starts first so picking it won't be easy.
MNB Price at posting:
14.0¢ Sentiment: Buy Disclosure: Held
