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04:51
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Originally posted by HypersonicBunny:
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Ok lets have a back of the envelope look at MGV from a technically volume based perspective. Please note these are my rough guesstimates from just looking at a basic chart. If you really want, you can have a closer look by pulling up VWAP and other specific data. Basically around .60 offers great buying if you believe in the fundamental story as your technical downside risk is limited at around the low .50s. On a risk/reward basis, 15-20% downside risk versus around 100% upside if you believe the fundamental story that MGV will strike it again with repeaters to Starlight and/or will get taken over. Obviously there's risk in everything, but from the above, its pretty much a no brainer for the speculative junior resource end of the market.Background Period 1 )Period 2 )Period 3 )Period 1 - churned around 345m in volumeh eavy support line at say around .45 Period 2 - churned around 120m in volumemedium support line at say around .58 Period 3 - churned around 70m in volumesoft support line at say around .70 Periods 1+2+3 - churned around 535m in volumelow .50s is the absolute line you should watch. If it ever breaks it downside, then there is a major fundamentally negative issue. technically low .50s should never be breached given its traded the whole free float around this price level.
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Warren Buffet sold his US bank shares and started buying gold stocks (reported at Zero hedge). Technical signals on gold went positive on Thursday / Friday. MGV technicals also started to go positive on Friday (completing the correction). Onward and upward. Good luck to all longs
