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4.2¢ magnis energy technologies ltd

Great analysis. But production is not until q3 next year and...

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Fritzl

6,749 Posts.

655

01/06/21

06:50

Post #: 53551147
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Originally posted by Mucha123: ↑

I am a long term holder/investor of MNS and very hopeful and positive about iM3NY starting production by the end of 2021 or early 2022. I believe it will reach over $1 when they achieve production.

However, for those who follow technical analysis, it looks possible for the share price to close the gap down to $0.24 and possibly down to $0.22 to 38.2% Fibonacci retracement level. More likely to fill the gap to $0.24 and turn back up as the 200 day moving average coincides around that level. Also the RSI indicated downtrend divergence when it achieved $0.42 and $0.49 and is not quite at oversold area yet. Almost there. MACD also indicating downtrend currently and about to turn up but not quite there yet as well.

Unless an important market moving announcement is released, short term share price will continue on its downtrend, at least filling the gap.

Overall, short term down tend but medium to long term up trend technically.

All in my opinion. Do your own research. Good luck to all traders and investors

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Great analysis.
But production is not until q3 next year and that’s without hiccups . Cheers.

MNS Price at posting: 28.0¢ Sentiment: Hold Disclosure: Held
2 Upvote

1 Great analysis

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