AEV 0.00% 0.5¢ avenira limited

mak and grain charts if interested

  1. 5,382 Posts.
    G'day
    A few were interested in my mak charting in the past, I haven't posted one for a while so thought why not?
    Not a lot to report really, with everything falling off a cliff mak has been disappointing. For approximately 9 months it's traded largel in a channel between 40 - 60c. An inverse head and shoulders hit it's target around the 75c level and the another slide. From yellowcakes fundamental comments, which appear pretty logical we are waiting for the grains to reverse direction. Unfortunately no definite sign of that yet, but watching.
    Mak price is currently being supported by the placees by the looks at 43, with more support at 40. For those who like to buy out of favour stocks now "may" be a good time. For the momentum types, nothing to see here. Below 43 or 40 would trigger some stops so care and a plan is needed. Such a panic could signal lower prices or simply be an excellent entry?
    I suspect mak is still on many a radar and could move quickly if things turn around.
    anyway, that's the end of my lazy fathers day ramble. Good luck to all, particularly the fathers and grandfathers (like me)
    cheers
    Rod
    Charts = mak + weekly corn barley wheat futures (from memory the most important according to yellowcake)



 
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