MDI middle island resources limited

Not one of the @ but here's my take if it is worth anything. On...

  1. 30 Posts.
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    Not one of the @ but here's my take if it is worth anything. On the daily, MDI has sold off steadily since August (from you know who amongst others) and recently hit the support at the 50% fib. Nice bounce off that level on small volume up to test 0.02 which is going to be an area with lots of sellers. Given there is the 23.6% fib (0.021) acting as a resistance area and immediately above that is the 200 week MA at 0.022 which are confluent to the volume of sell orders at those levels (estimate of around 22.6m in volume between 0.02-0.022), AND there hasn't been any news related to this pump, a retest of the 38.2% fib at 0.018 is to be expected before a continuation to the upside,

    Now upside targets is where the fun begins, if we can clear these critical resistance levels, ideally before the FS comes out and it turns out to be at or better than market expectation, we could fly all the way to previous highs set in 16-17 or 0.086, with retracements on the way up (due to profit taking), and if we can't before the FS comes out, the announcement should generate some volatility in the markets to give buyers a boost to clear lines after lines.

    Open to feedback or input
 
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(20min delay)
Last
1.7¢
Change
0.000(0.00%)
Mkt cap ! $4.984M
Open High Low Value Volume
0.0¢ 0.0¢ 0.0¢ $0 0

Buyers (Bids)

No. Vol. Price($)
3 327578 1.7¢
 

Sellers (Offers)

Price($) Vol. No.
2.0¢ 179582 2
View Market Depth
Last trade - 16.26pm 01/08/2025 (20 minute delay) ?
MDI (ASX) Chart
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