First of all, I am not trying to convince you of anything.
Secondly good!, you should never make an investment you are not comfortable with. Stick to your risk/reward ratio and trading strategy and invest when it ticks all the boxes, if it suits you.
Finally I'm not sure what you were trying to draw in your chart, it seems you are indicating a short term ascending triangle followed by further retracement??
IMHO this would be a more accurate example of what has and could happen.
MGT Chart 2021, page-214
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Last
16.0¢ |
Change
-0.005(3.03%) |
Mkt cap ! $18.45M | |||
| Open | High | Low | Value | Volume |
| 16.8¢ | 16.8¢ | 16.0¢ | $44.37K | 273.9K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 2953 | 16.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 17.0¢ | 321715 | 2 |
View Market Depth
| Last trade - 15.09pm 01/11/2024 (20 minute delay) ? |
| MGT (ASX) Chart |