I agree with the bearish technical analysts that 8 days in a row of green candles is likely to be unsustainable going forward. With 3.37billion shares on issue, I imagine some of them will be itching to potentially sell (especially if they are impatient because of a 1-2month wait for the drill bit to start turning), 10cents has been historically quite difficult for MAY to break through (and that was before the options were exercised, therefore relatively it will be even harder to break through 10cents, especially on no news, after all the options have now been exercised).
The RSI daily appears to be suggesting it has been overbought and a pullback could be in order as shown here: 65604769.
The failure to sustain the break out at $0.096/share signifies a bearish sign to me.
I have taken a significant amount off the table today as profit in accordance with my trading plan.
May Chart, page-5931
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Last
2.2¢ |
Change
0.000(0.00%) |
Mkt cap ! $74.14M | |||
| Open | High | Low | Value | Volume |
| 2.2¢ | 2.2¢ | 2.2¢ | $3.75K | 170.4K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 22 | 5073689 | 2.2¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 2.3¢ | 303960 | 5 |
View Market Depth
| Last trade - 12.08pm 31/07/2024 (20 minute delay) ? |
| MAY (ASX) Chart |