Magnis sticks to poor charting form again today; greatly...

Magnis sticks to poor charting form again today; greatly anticipated announcement (of no substance) leads to price rejecting 100 day MA once more with no follow through buying or volume, as has been the pattern for 2 years. This is long term bearish price behaviour.

The only difference with this latest rejection of the 100 day MA was the orange box of low volatility preceding it, which shows price stabilised in a tight band in anticipation of this being a "big announcement".



Would have been a good short at 45 cents this morning hey? Maybe the VW announcement I read on this forum  is coming soon will be different next time?

Or is Magnis running out of cards to play with a market that wants more from it? I have a feeling we will review this chart again after that announcement with a similar outcome.

Time to cook something new up MNS.