I'm thinking that the range-bound sp is, at this time near the EOFY, not breaking out because of tax loss selling season's downward sp pressure. Although at best not bad, it does reveal an underlying BUYing demand; otherwise the sp would be dropping, signifying a penny-dreadful.
If, IF this is the case, then once tax loss selling ends, MLX is due for a rally. First, those traders/investors looking for a confirmed bottom (this is where I'm focusing my CRAP TA tea leaves), then they, followed by others, will begin BUYing. IF there's a rally soon, it should have the momo, and maybe a bit of FOMO, to carry on into mid-July,
Beyond mid-July MLX's fundamentals combined with, especially, the increasing demand and strategic value of Sn, (Ni would be nice too) will provide the fuel to sustain the rally.
"If" and "shoulda" are covered, "woulda" is now, "shoulda" is BUY.
For those with a bit of change rattling around...
https://www.youtube.com/watch?v=gFtb3EtjEic
OV
I'm thinking that the range-bound sp is, at this time near the...
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Last
42.0¢ |
Change
0.005(1.20%) |
Mkt cap ! $380.6M | |||
| Open | High | Low | Value | Volume |
| 41.5¢ | 42.5¢ | 40.5¢ | $591.9K | 1.424M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 246 | 42.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 42.5¢ | 225200 | 7 |
View Market Depth
| Last trade - 16.10pm 28/06/2024 (20 minute delay) ? |
| MLX (ASX) Chart |