Macs, The RSI is tipping heavily into oversold, The support at $1.98 was shown to be effective again today. The last time MAK touched $1.98 it rebounded on the second day after retesting $1.98. Due to the longer and steadier decline of this recent passage, I am leading towards seeing the SP languish at $1.98-$2.05 for 2 more days rather than one.
An indicator for a rebound day tomorrow is an inside day or harami where the open and close for tomorrow is inside todays open/close. If that occurs, it is likely to rebound.
As Haspete has said, a future uptrend is dubious in nature until it breaks the upper Andrews. So I would indicate that $2.35 would be the re-entry point for those looking for a safer point to buy in. Those with more risk tolerance would buy on Wednesday if a suitable candle formation arises from Tuesday.
Word of note- Budget night Tuesday night could sharply affect the SP one way or the other.
chartists only please, page-2
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Change
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Mkt cap ! $11.74M | |||
| Open | High | Low | Value | Volume |
| 0.6¢ | 0.6¢ | 0.5¢ | $484 | 88.54K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 7 | 2947616 | 0.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.6¢ | 10091525 | 13 |
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| AEV (ASX) Chart |