MGT 1.85% 26.5¢ magnetite mines limited.

I tried to reply to @KiiDakas question about price support but...

  1. 83 Posts.
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    I tried to reply to @KiiDakas question about price support but HC kept breaking

    The next support level is 36/37, but it's not as strong as 32 and 28.

    36/37 because it was tested twice (29th Jan, 2nd Mar) and flipped, and it was then accumulated on and rejected (22nd - 23rd Mar).

    Then 32 and 28 are similar in that they're the top of accumulation ranges

    Note red square highlighting accumulation around 32, and then clear accumulation just below 28 in the two swings beforehand.

    You might think those supports are low, but given the severity of this run since 0.002, strong supports ~halfway is bullish imo.

    Also, look at the volume profile on the right handside, seeing spikes of volume at 36 and 34 similar to that of 26 - 30 is really good because if you think about it, it's the same amount of shares traded but at a 20% higher price (36 = 120% of 30).

    https://hotcopper.com.au/data/attachments/3035/3035511-701a343ab3e8f508f8304ad786078749.jpg

 
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