MGT

3.57%

27.0¢ magnetite mines limited.

MGT share price, page-40

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notmrbuffet

70 Posts.

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22/09/20

22:47

Post #: 47547098
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Originally posted by jovialmonk: ↑

What do you think of this?
We absolutely need to consider the present level of support at 0.011 in market, as well as the support at 0.01 due to accumulation from participation in the CR. Also notice the accumulation in the bottom. This of course doesn't include the accumulation going on within the CR, which is a massive reason why it flattened after the CR announcement . What do you think will happen to the accumulation once the CR is finished?

I should also note that I expect a support level to build at 0.012 over the rest of the week, but this is speculative, which is why I left it out of the chart.
I would expect both support and resistance levels to shift upwards towards the end of and immediately following the CR with support closer to 0.012-0.013 and resistance at 0.015-0.016
Again all IMO, DYOR, and just my perspective.

I must also say that technical analysis on a smaller scale of time (say during the CR) is perhaps not that telling, as accumulation is going on off-market, reasons for selling are perhaps for the reason of more accumulation at the CR price, so a lot is missing from the chart.
Technical analysis (TA) will be very interesting heading into the last few days of the CR and the first few weeks/months following its end. I am very new to it but enjoying the journey. I think fundamentals are more important, but TA is fun and can help with entry points for averaging down/up along the way, or exit points for those who don't want to take a long position

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Hahah enjoyed looking at this interpretation of the chart. TA is great to know and always good fun, do you some type of Elliot wave forming too on the daily time frame?

MGT Price at posting: 1.2¢ Sentiment: Hold Disclosure: Held
1 Upvote

0 Great analysis

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(20min delay)
Last 27.0¢		Change -0.010(3.57%)		Mkt cap ! $26.57M

Open	High	Low	Value	Volume
30.0¢	30.0¢	27.0¢	$43.26K	158.8K

Buyers (Bids)

No.	Vol.	Price($)
2	101509	26.5¢

Sellers (Offers)

Price($)	Vol.	No.
27.0¢	15174	1

View Market Depth

No.	Vol.	Price($)
2	101509	0.265
4	211830	0.260
2	50000	0.255
5	20500	0.250
1	10000	0.240

Price($)	Vol.	No.
0.300	11291	1
0.305	42319	1
0.315	10300	1
0.330	6599	1
0.335	25000	1

Last trade - 16.10pm 26/07/2024 (20 minute delay)

MGT (ASX) Chart

MGT share price, page-40

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