Who cares about charts, charts have nothing to do whether a stock has the potential to go up or down. The iron ore price is (1) of the two things which will dictate whether MGX goes up or down. The other item (2) is shipping, no ships means no cash, plenty of ships means that MGX is making money. However it takes those two items (1 +2) to improve to ensure that the shareprice goes up.
MGX unfortunately missed out on the iron ore boom and now costs are increasing.
Current 65% grade price is at US$120/tonne down from US$265/t as it was 12 months ago.
If MGX gets to 75c/share in the next six months I'll be very surprised.
We shall see
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Last
36.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $444.6M | |||
| Open | High | Low | Value | Volume |
| 37.0¢ | 37.0¢ | 36.5¢ | $244.0K | 664.6K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 5 | 118094 | 36.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 37.0¢ | 50000 | 2 |
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| Last trade - 16.10pm 26/07/2024 (20 minute delay) ? |
| MGX (ASX) Chart |