It always puzzles me that people who like to chart yet don't own a stock or have no faith in it make the same mistakes as overexcited holders - they all ignore the increase in volume and changes in spread at the tops and bottoms which signal some move is on.
MNS is fairly typical of a lightly traded share with very little retail involvement (yet) - MNS is easily manipulated by the "big" guys. @Wilma85 - you'd be surprised at what the insto's will do to save half a pip. Which gets me on to how MNS is subject to so many very successful markdowns and supply tests.
Blue circles you can see the manipulation in an orchestrated selldown and the immediate response (I suspect by the same insto's) in buying back.
Red circles to me indicate the insto's don't want any more at that price and are willing to let it drift down till MNS becomes good value again and then they'll force capitulation excitement and pounce.
The "Elephant" I have highlighted is the old T/L from way back - it's still there and it's effect is apparent as we see the smaller bounces from each low point. I'd get a bit excited if this one bounced above 60 but I don't like to predict.
There was a poster a while back who stated they didn't believe in charts but believed in the Co. I don't bother much with FA but I agree with that poster for a charting reason, you've just got to look at what these guys are doing to get these shares as cheap as possible.
MNS
MNS Price at posting:
56.0¢ Sentiment: Hold Disclosure: Not Held
(20min delay)