1. Most Discussed
  2. Gainers & Losers

Trend - UP

  1. Henrik

    635 Posts.

    MIM Holdings Limited (MIM)

    Trend - UP
    Aggressive Action - Hold/Buy break above $1.40 with a stop loss
    Conservative Action - Hold/Buy break above $1.40 with a stop loss
    Trend Intensity (scale +9/-9) - Trending up strongly at + 9

    (CHART) http://www.egoli.com.au/spotfire/detail.asp?SpotfireID=432&PageNumber=1

    Materials - Metals and Minerals - Diversified
    Resistance at $1.40 holds the key to unlocking a rally towards $1.75/2.00 for MIM.

    Every picture tells a thousand stories and the MIM chart shows clear resistance at $1.30/40 that has turned back each rally over the last two years sending the share price scurrying back meekly to its lows near $0.80.

    "This time however", the stock found solid buying support at $1.15. This level was repeatedly tested earlier this year and now we have established a short term base there. The share price has reacted by rallying and in doing so taking out short term resistance at $1.32 as buyers become more interested as prices rise.

    The trading action has suddenly changed with buyers now supporting the higher price obviously believing $1.40 can be taken out and a further rally can occur. No collapse here to $0.80, as $1.15 stands firm.

    A move above $1.40 initially targets the $1.75/2.00 band which represent the last highs of note and in doing so puts a firm base of support under the price at the break point of $1.40.

    MIM is not there yet but the signs are positive for a real test and battle at $1.40.

    Current Trend Intensity readings rate MIM at a very strong + 9. The trend is up, the price is above a rising moving average ($1.25) and volume is expanding with price rises. Price momentum (MACD) is positively above zero and beginning to expand upwards again.

    All go ahead here for MIM but watch support at $1.15. with similar interest in being shown in fellow miner Hardman Resources which has key resistance at $0.72.

    Monday, July 08, 2002

Before making any financial decisions based on what you read, always consult an advisor or expert.

The HotCopper website is operated by Report Card Pty Ltd. Any information posted on the website has been prepared without taking into account your objectives, financial situation or needs and as such, you should before acting on the information or advice, consider the appropriateness of the information or advice in relation to your objectives, financial situation or needs. Please be aware that any information posted on this site should not be considered to be financial product advice.

From time to time comments aimed at manipulating other investors may appear on these forums. Posters may post overly optimistic or pessimistic comments on particular stocks, in an attempt to influence other investors. It is not possible for management to moderate all posts so some misleading and inaccurate posts may still appear on these forums. If you do have serious concerns with a post or posts you should report a Terms of Use Violation (TOU) on the link above. Unless specifically stated persons posting on this site are NOT investment advisors and do NOT hold the necessary licence, or have any formal training, to give investment advice.


Thank you for visiting HotCopper

We have detected that you are running ad blocking software.

HotCopper relies on revenue generated from advertisers. Kindly disable your ad blocking software to return to the HotCopper website.

I understand, I have disabled my ad blocker. Let me in!

Need help? Click here for support.