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PrivateRob

2,070 Posts.

263

04/07/22

12:38

Post #: 62356355
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Originally posted by chuk: ↑

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.

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I think we’ve already had 4 false starts, 5 if you include the big climb to 20c - so we have not only shaken out a lot of early money, but probability says the next climb is more likely to be the one. So close to the DFS and I can imagine we will have a steady stream of buyers betting on a quick buck. I’m happy for this to be slow and steady over the next month,if that’s how long it takes for the DFS to appear.

MNB Price at posting: 14.8¢ Sentiment: Buy Disclosure: Held
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(20min delay)
Last 6.4¢		Change -0.001(1.54%)		Mkt cap ! $56.23M

Open	High	Low	Value	Volume
6.5¢	6.5¢	6.3¢	$11.10K	174.7K

Buyers (Bids)

No.	Vol.	Price($)
4	91016	6.3¢

Sellers (Offers)

Price($)	Vol.	No.
6.4¢	15254	1

View Market Depth

No.	Vol.	Price($)
1	100000	0.065
1	156250	0.064
4	91016	0.063
4	150000	0.062
2	397540	0.061

Price($)	Vol.	No.
0.064	15254	1
0.067	27650	2
0.068	20000	1
0.069	110000	2
0.071	72075	1

Last trade - 15.58pm 12/09/2024 (20 minute delay)

MNB (ASX) Chart