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
41.0¢ |
Change
0.025(6.49%) |
Mkt cap ! $40.35M | |||
| Open | High | Low | Value | Volume |
| 38.5¢ | 41.0¢ | 38.5¢ | $34.18K | 85.71K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 245 | 39.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 41.0¢ | 35933 | 2 |
View Market Depth
| Last trade - 16.10pm 30/05/2024 (20 minute delay) ? |
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Last
40.0¢ |
Change
0.025 ( 2.56 %) |
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| Open | High | Low | Volume | ||
| 38.5¢ | 40.5¢ | 38.5¢ | 18625 | ||
| Last updated 15.43pm 30/05/2024 ? | |||||
| MGT (ASX) Chart |