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MNS - Chart Thread, page-354

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Fritzl

6,749 Posts.

656

16/11/22

07:11

Post #: 64795713
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Originally posted by jdpc35: ↑

For those interested in the MNS chart:

After breaking its Nov 21 to July 22 downtrend, MNS decisively broke that downtrend line in late August
We have since seen a classic charting back-test of the down trend where the old resistance now became support.
Note in particular the turning point back up in October which was at the intersection of the down trend line and the uptrend line from the June/July higher lows.
All of these collectively suggest that this breakout from the Nov 21 to July 22 downtrend is a significant move.
From an Eliott Wave perspective, as I have previously posted, I believe the move from April 2020 (5c) to Nov 2021 (75.5c) constituted Wave 1 which unfolded over 84 weeks. Then the move from Nov 21 to July 22 was the Wave 2 correction which unfolded over 32 week (38% of the time of Wave 1).
The recent chart strength and price action suggests we are in the early stages of Wave 3.

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This dog has had more waves than Bondi beach .
Its like all there asx announcements they are full of shxt. !!!!!!!
MNS Price at posting: 40.0¢ Sentiment: None Disclosure: Held
1 Upvote

0 Great analysis

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