Australia's largest stock trading and investment forum Australia's #1 stock forum

MNS

Click for more information

0.00%

4.2¢ magnis energy technologies ltd

Charts, page-212

First 212 Last

Share
Profile

Follow
TopSahara

7,772 Posts.

514

28/06/23

10:15

Post #: 68506725
Share

Originally posted by jdpc35: ↑

Two charts for MNS:

Short term (via a 1 year - daily chart), MNS must decisively break through the 17c level to show an initial break of this YTD downtrend. There is a strong MACD divergence set-up at the moment and so if we see such a decisive break of this downtrend, that will be significant from a chart technical perspective.

Note that I have ignored the one day spike on the AAM offtake announcement in defining these chart lines.

My second chart is a 3 year perspective (weekly view chart) and shows the major level of support / resistance that extends across the 3 years and currently sits at around the 30c level. This will now become the major resistance level if we see a break of this downtrend. Note a break would also then see the weekly MACD start to turn up.

With a break of this downtrend, I would expect that this 30c level will be the initial target, where I expect that MNS will test and retest that level (much like it did in July 2020) before any further movement:

Expand

Top chart, if we don’t see a feel good ASX release soon we will be at 10cents.

MNS Price at posting: 14.5¢ Sentiment: Sell Disclosure: Not Held
2 Upvote

0 Great analysis

Reply

Top Stories

IVR

Investigator Resources hits 8m @ 1.06% copper on-site Stuart Shelf JV project acreage

WC8

Leia pegmatite pulls up recoveries of 84% lithium for Wildcat in WA

AI stocks: What to expect in 2024-25

BYH

Bryah gains $408K government rebate for work on copper target Narracoota

Talking the US election, the spectre of Trump and what's hot on the ASX200: Wealth Within

There are more pages in this discussion • 174 more messages in this thread...

First 212 Last

Add MNS (ASX) to my watchlist