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MNS

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4.2¢ magnis energy technologies ltd

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Trommel

2,013 Posts.

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16/07/20

17:03

Post #: 45915997
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Originally posted by Cabbie: ↑

When I see a large spread in a bar like that and a level of volume that doesn't reflect that spread (the volume dropped relative to the prior periods) I always look for a reason for that anomaly.

Usually it points to someone getting carried away with buying or trading but overall less shares being traded. - in other words the general market didn't join in (or joined in to a lesser extent). I have seen much worse than this and today's bar while fitting that category is by no means really negative - to close on it's high like that with still relatively high volume is really bullish so it's really a bar of mixed signals.

Sometimes a bar like that can be made to look better by after market auction activity so that's why a confirming bar tomorrow is needed to complete the picture.

Notwithstanding that slightly bearish outlook it is pleasing to see the 10 level broken and this could become support - I even notice that the 200 ema has been broken and this also is a "big" one to overcome and even more important to hold.

The chart with the 200 ema - this time the approach by MNS to this level has been a lot more structured and slower.

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Hi @Cabbie, hope you've been keeping well?

Could you please share your TA thoughts on today's action with an 18% gain on large volume of 4.3M closing on it's high?

I thought it might settle down a bit today after yesterday but the strong buying continued.

MNS Price at posting: 13.0¢ Sentiment: Buy Disclosure: Held
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Last 4.2¢		Change 0.000(0.00%)		Mkt cap ! $50.37M

Open	High	Low	Value	Volume
0.0¢	0.0¢	0.0¢	$0	0

MNS Chart, page-1824

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MNS Chart, page-1824

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