MEM Discussion, page-265

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Grogger

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02/05/25

09:06

Post #: 78889776
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Originally posted by Ra1nMaker: ↑

1. Long-Term Downtrend Is Intact. The weekly chart clearly shows that MEM is still in a prolonged, unbroken downtrend. Despite the recent stabilisation in price, the asset continues to make lower highs and lower lows. The downtrend line from early 2021 remains unbroken — a fundamental condition for a reversal has not been met.

2. No Validated Double Bottom. The supposed “double bottom” has not confirmed technically. A double bottom only becomes valid after a breakout above the neckline with strong volume. MEM has shown no such breakout — price action remains confined in a tight range near all-time lows. Without a breakout, it's premature (and dangerous) to call it a reversal pattern.

3. RSI and MACD Are Weak. The RSI is below 50 again, and while there was a brief uptick, there is no sustained bullish momentum. RSI is oscillating in a bear market range (30–50), which is typically associated with downtrends.The MACD continues to hover below the zero line with flattening momentum. A true trend reversal would typically involve a bullish MACD cross above the zero line — something we haven’t seen.

4. Volume Spike ≠ Bullish Intent. The increase in volume could just as easily indicate distribution, not accumulation. Volume spikes near support without upward price movement are often signs of exit liquidity being created — not buyers stepping in for a long-term play.

5. Price Action Speaks Loudest. No matter how strong a fundamental case may appear, technical analysis is driven by what the market is actually doing, not what we hope it will do. Until the market proves strength through key level breaks, reclaiming of resistances, and higher lows/higher highs — the bias must remain bearish or at best, neutral.

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excellent post i agree with all these points

MEM Price at posting: 0.5¢ Sentiment: None Disclosure: Not Held
2 Upvote

0 Great analysis

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(20min delay)
Last 0.5¢		Change 0.001(11.1%)		Mkt cap ! $9.917M

Open	High	Low	Value	Volume
0.5¢	0.5¢	0.5¢	$19.60K	3.935M

Buyers (Bids)

No.	Vol.	Price($)
19	8035245	0.4¢

Sellers (Offers)

Price($)	Vol.	No.
0.5¢	2183756	5

View Market Depth

No.	Vol.	Price($)
19	8035245	0.004
7	3423249	0.003
4	3644000	0.002
5	7850000	0.001
0	0	0.000

Price($)	Vol.	No.
0.005	2183756	5
0.006	5884481	10
0.007	9764169	10
0.008	2884385	8
0.009	1180000	2

Last trade - 16.10pm 26/06/2025 (20 minute delay)

MEM (ASX) Chart

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