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4.2¢ magnis energy technologies ltd

I'm going to repost @johnyb26 post above in the humour section...

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nzrugby

426 Posts.

06/09/16

12:44

Post #: 18960537
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Originally posted by johnyb26 ↑

We all have our technical interpretations and trading rules.

Your Wednesday bar marked "high" is also an high volume upthrust bar into resistance with failed price follow through on Thursday and Friday despite good news of the ASX 300 inclusion. Thats bearish IMO.

If the RSI fails to break above 60 and we don't see a price bar close above Wednesday's high soon, then IMO the bears will drive price lower in the short-medium term.

Others may disagree, but the world will soon be awash with more graphite than the world will ever need batteries , and cash strapped spec miners from Canada to Africa wishing to transition to producers within a finite timeframe. This usually means competition for marketshare and forward sales , and lower prices based on simple demand and supply.

An ideal sector to eye short positions.

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I'm going to repost @johnyb26 post above in the humour section .... I think it has more credibility there.

Cheers
nzrugby

MNS Price at posting: 85.5¢ Sentiment: Buy Disclosure: Held
10 Upvote

0 Great analysis

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