This chart illustrates the relationship at 571:1 MIN:AGO ie how...

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Jmax88

132 Posts.

57

15/04/18

03:36

Post #: 32461024
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Originally posted by Jmax88 ↑

RC, as requested in another thread.

I guess MIN's chart is more important to us than the IOP now.

The monthly chart is really bullish, pullbacks have been shallow. That being said, I can't see it continuing on this trajectory without a consolidation period. However, we're not here to become long-term holders of MIN, we want to know what the price will be doing in July so I would put more weight on the medium term analysis.

View attachment 1058989
View attachment 1058986

Weekly chart paints a similar picture to the monthly. (support zone is calculated with fib/Gann levels and natural levels)

View attachment 1058992

Daily chart looks pretty bad IMO. We have now broken down through the neckline of a head and shoulders and also below the 200DMA on volume. If we do not pick up support in the green support zone, I suspect we'll head down to the 100% extension of the neckline-ATH which often happens with head and shoulder patterns.

Furthermore, the recent decline has been quite linear, I would expect to see an accelerated selloff into a selling climax in the below-defined zones.

View attachment 1058983

If I was analyzing this stock to buy, I would be waiting until it found support and then I would like to see strength on volume to confirm the end of the downtrend. CH has timed this perfectly with both AGO and MIN charts so he get's the best deal possible.

Short of the long: I would not be buying this stock right now and It's more likely to go down between now and July.

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This chart illustrates the relationship at 571:1 MIN:AGO

ie how shafted we're getting

AGO Price at posting: 2.8¢ Sentiment: None Disclosure: Not Held
12 Upvote

5 Great analysis

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This chart illustrates the relationship at 571:1 MIN:AGO ie how...

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