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Gladdy1

187 Posts.

67

05/02/22

13:02

Post #: 59377114
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Originally posted by chuk: ↑

It almost seems odd that MNB was climbing rapidly when there were a lot more sellers in the screen. The buyers kept buying despite the larger sell orders and volume was increasing. Now with far fewer sellers on screen, the volume has dropped off again and the sp has leveled off. Could it be that the buyers are waiting and hoping for more sellers so they can buy on volume without pushing the sp too high? It clearly won't be easy to get volume with the sell side looking that thin. Or are the buyers waiting in case of a bit of a correction after a week of gains?
The price is holding right on resistance without dropping back from resistance right away. Usually a good sign that it won't correct and is ready to go on.
With the sellers largely depleted, when the buyers loose their patience, this could run hard.

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you are dead right Chuk.i have been chasing 1 million all week at 13.5. Still K300 short, and still need to chase up to 15 to secure but am holding out at 13.5. Very skinny sell side so patience is required for buyers, and it feels like they are building up and soon buyers will accept they need to pay more and it will break out.

MNB Price at posting: 14.0¢ Sentiment: Buy Disclosure: Held
10 Upvote

0 Great analysis

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(20min delay)
Last 4.4¢		Change 0.001(2.33%)		Mkt cap ! $38.65M

Open	High	Low	Value	Volume
4.4¢	4.4¢	4.4¢	$1.997K	45.38K

Buyers (Bids)

No.	Vol.	Price($)
2	130922	4.3¢

Sellers (Offers)

Price($)	Vol.	No.
4.4¢	17113	1

View Market Depth

No.	Vol.	Price($)
2	130922	0.043
1	305436	0.042
2	163597	0.041
6	506720	0.040
1	16000	0.039

Price($)	Vol.	No.
0.044	17113	1
0.045	170649	2
0.046	99111	3
0.047	93190	2
0.048	16279	1

Last trade - 10.47am 08/11/2024 (20 minute delay)

MNB (ASX) Chart