Full disclaimer - I've commenced building a long-term position lately and will continue to monitor for further opportunities.
I recall when the intelligent Investor released a broker note on MFG back in December 2021 with BUY < $45.. watched this stock since and it's astonishing to see what's happened.
I don't usually peruse monthly charts too often but this one piques the interest. I just can't help but feel that in 3-5 years time, you might be looking back at the one opportunity there was to accumulate <$9 - and it was in 2023.
Monthly:
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Monthly RSI has been smashed down to oversold for the best part of 18 months.The weekly chart is also interesting - after the RSI went into way oversold in early 2022, it's been rising steadily since while the share price has continued to tumble - until only recently where a few things are starting to suggest a base may be forming including the very recent 50/200 cross on the weekly.
Weekly:
Daily:
At what point does one consider accumulating?
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Last
$8.36 |
Change
-0.070(0.83%) |
Mkt cap ! $1.511B | |||
| Open | High | Low | Value | Volume |
| $8.44 | $8.44 | $8.24 | $12.59M | 1.510M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 8816 | $8.35 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $8.36 | 1686 | 2 |
View Market Depth
| Last trade - 16.10pm 21/06/2024 (20 minute delay) ? |
| MFG (ASX) Chart |