Hi @Riskon22 - MNS is in a solid uptrend and it's worth noting that the trend has been consistent enough over a long enough period to see the long term averages (coloured red) start to spread indicating an underlying strength.
But ...... there is a chance now that MNS is becoming overbought and typically this will occur around a previous resistance/support level (and psychological) one as well - that being the 10 cent area which MNS retracted from today.
Also looking at today's activity whilst the volume is still way above average the spread between the open and close today has decreased. This indicates a weakening of the ability of the traders to push it any higher no matter the effort they are putting into it (volume) - subsequent bars are needed to confirm this but I think you've recognised that a "need to consolidate" might be approaching. It takes time to slow a trend and I take today's bar as a small sign this might be starting.
It's worth noting though that in this latest trend through July that supply doesn't seemed to have been an issue but rather MNS just moved up on demand.
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Hi @Riskon22 - MNS is in a solid uptrend and it's worth noting...
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