We're starting to see long-termers cut their losses and trade on fear. I'm tapped out, otherwise I'd be buying.
I'd love to double-down, but right now I think the trend is down, relentlessly. I've been looking for data to support the idea that we've found bottom - that we've caught the falling knife, and I've found dozens of bottoms so far. Here is what I've learnt - MYX has more bottoms than Grindr, as they say
Anyway - that relentless shorting is making the long-termers fear deeper losses, so they're selling - giving the wins to the shorters - driving the cycle. And I keep hearing "when people are greedy, be fearful - when people are fearful, be greedy"...
If you look at the 50 day Simple Moving Average of Close - it's not good. When I bought into MYX I broke one of my cardinal rules: never buy a share trading below it's SMA50. And I kept buying figuring the SMA50 would have to catch up. Then it drops more and the shorters make serious coin. Frankly, if this continues we will see a management buy out around 20 cents - they'd be insane not to. The fundamentals are just too damn good.
So since I can't afford to acquire more, and I know that eventually there will be a management buy-out, I'm going to hold and not worry too much.
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Last
$4.50 |
Change
-0.020(0.44%) |
Mkt cap ! $382.8M |
Open | High | Low | Value | Volume |
$4.44 | $4.55 | $4.43 | $397.2K | 88.30K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 429 | $4.48 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$4.52 | 2113 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 429 | 4.480 |
2 | 542 | 4.470 |
2 | 542 | 4.460 |
2 | 542 | 4.450 |
1 | 113 | 4.440 |
Price($) | Vol. | No. |
---|---|---|
4.520 | 2113 | 2 |
4.530 | 542 | 2 |
4.540 | 542 | 2 |
4.550 | 15542 | 3 |
4.560 | 2748 | 3 |
Last trade - 16.10pm 18/09/2024 (20 minute delay) ? |
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MYX (ASX) Chart |