A Gann technique to detect a change in sentiment is to count the number of bars in a swing and look for 'change in character'. Currently MGT's swings are 15-20 on a swing down and 5-10 bars in an up swing. When sentiment changes from bearish to bullish we should see a change in character in the form of an up swing having 15 to 20 bars and the down swing having 5-10 bars. It sounds obvious but most traders / investors don't use this simple technique to detect a change in trend and therefore miss out on easy opportunities to make money.
MGT share price, page-12691
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Last
38.5¢ |
Change
-0.020(4.94%) |
Mkt cap ! $37.89M | |||
| Open | High | Low | Value | Volume |
| 40.5¢ | 40.5¢ | 38.5¢ | $42.89K | 109.6K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 6484 | 38.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 39.5¢ | 13320 | 2 |
View Market Depth
| Last trade - 14.36pm 29/05/2024 (20 minute delay) ? |
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Last
39.0¢ |
Change
-0.020 ( 3.70 %) |
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| Open | High | Low | Volume | ||
| 40.5¢ | 40.5¢ | 38.5¢ | 25662 | ||
| Last updated 15.59pm 29/05/2024 ? | |||||
| MGT (ASX) Chart |