Chalea still isn't convinced of an entry point for MAK. The reason for this is the massive bear run from $2.70 last year that has continued to 40cents. It is good to be conservative with your investing dollars but you need to select an entry point.
Chalea is a talented charter on the HC threads and has written that several things are required before a conservative investor can be convinced with Technical Analysis.
Firstly a higher low must be achieved. The current support on the charts is 40 cents. Therefore a new low above 40 cents is required.
Secondly a higher high is required. The most recent high is 57 cents. So a second high of 58 cent or higher.
Thirdly volume is required to facilitate good trading entry points. MAK has had approximately 500k or more volume for the last few weeks.
So if you are watching MAK, looking to get in, keep these numbers in mind. Watch your stops with a 10% stop loss as a recommendation.
If MAK achieves these numbers, then get on it with your ears pinned back! It will be on like donkey kong. The run up to $1.80 happened very quickly last year and with news of forward sales agreements due in April/ May according to MAK, the SP could rocket quickly.
Do Your Own research.
AEV Price at posting:
44.7¢ Sentiment: Buy Disclosure: Held
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