Hi Robbo, I am sure you understand a bit more than you let on
All I have done is provide a long term trend line which has been missing from these discussions..
"Would you agree that a failure of your trend line would be problematic for your narrative?"
If you had read my "narrative" I commented about issues if a break below the trend line. Of course I always like to see it play it out a bit and bouncing around the trend line or briefly just under doesn't necessarily confirm a break! (which, I presume is why you love the intraday movements
)
"And what if you were too liberal with your support line?"
I have no doubt you and others may think so, however I have posted the chart and drawn a trendline which I believe adheres to trend line principles. I use weekly charts for the longer term trend and if you prefer to use daily charts and base judgement on intraday highs / lows then that is your decision - I do not agree it is better as it just adds more noise. It can also distort longer term charts, but of course that's what some want. Basing a break of a long term trend on daily fluctuations is counter intuitive to me.
"Will we see a lower low?"
Possibly and we may also see a break below long term trend line, however that has not happened yet from my point of view and I don't believe recent trading points one way or the other, although funnily enough you have drawn a trend line suggesting it has
(Had a quick look at my daily chart for same period and my trend is still intact)
I am in no way suggesting that performance of MNS is certain from here based on TA, I just wanted to bring some balance with a longer term chart which is legitimate and not simply done to meet an agenda.
Some on here have been very critical of long term holders, however my trend line confirms it is still holding a long term uptrend........(of course that can change!!)
I think the trading since coming out of suspension is worth noting (and certainly not all doom and gloom like the fall from short term spike oft repeated here), however I doubt anyone would disagree that the direction of trading will be driven ultimately by news
As with any stock in this space if no news and prospects dim then the sp will drift off and I can tell you that without any charts.
I am waiting patiently for the next bit of news to see where to from here
(20min delay)