Guys while I am disappointed I got stopped out of my position it's worth noting strong indicie forces were at play which can sometimes happen. We saw this previously in the March liquidity drain that markets went through.
I'm afraid last weeks drop has shown itself to be a significant turn point for markets. See S&P chart below. All markets are in sink.
While we haven't had the confirmation of a channel break on ASX200 I'm expecting this to unfold late next week after a weak bounce to start the week. ASX200 below 5580 there is a high chance we'll revisit March lows.
Look at the similarities of the first big bounce during 2008 GFC and 2020 drop. Notice the bearish engulfing candle which marked the turning point.
And the recent 2020 drop. Massive shooting star to mark the turn.
I post above as it has great implications on MSB. I was hoping with abit of consolidation it would start a fresh 5 wave up towards $5's. However with the market back drop I now see the more likely path is consolidation back to around $2.4 - $2.7 range and we'd need to reassess it's strength from there.
Good luck to all. I'll be back when something significant to add.
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Last
$1.06 |
Change
0.030(2.91%) |
Mkt cap ! $1.210B |
Open | High | Low | Value | Volume |
$1.05 | $1.09 | $1.03 | $5.796M | 5.430M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 15990 | $1.06 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$1.08 | 48632 | 3 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 15990 | 1.060 |
3 | 33766 | 1.055 |
2 | 38526 | 1.050 |
4 | 79050 | 1.045 |
3 | 54455 | 1.040 |
Price($) | Vol. | No. |
---|---|---|
1.075 | 48632 | 3 |
1.080 | 108135 | 6 |
1.085 | 103276 | 9 |
1.090 | 239204 | 9 |
1.095 | 74283 | 8 |
Last trade - 16.10pm 02/09/2024 (20 minute delay) ? |
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MSB (ASX) Chart |