NRZ - NeuRizer Ltd

[Sean K]

Re: MTN - Marathon Resources

Has been well supported intra day which is encouraging. Initial bounce off 4.81. Still early, and I don't like calling things intraday, as it normally leads to embarrassment. I see where you get the 4.80 from. Perhaps that's more accurate? Seems to be at the moment.

Miraculaous recovery from 4.80, now looking better, and 5.00 ish still supported. Potential short term breakout when/if it's around the green circle. Still concerned with general market toppiness, but I I've been thinking that for the past 6 months.

 

[Rafa]

Re: MTN - Marathon Resources

thanks for the chart kennas...
certainly approaching D day soon...

in your experience of such a technical pattern, would the break more likely be up or down? I think it should be up, but as you say... this damn markets been toppy for a while now

 

[Sean K]

Re: MTN - Marathon Resources

thanks for the chart kennas...
certainly approaching D day soon...

in your experience of such a technical pattern, would the break more likely be up or down? I think it should be up, but as you say... this damn markets been toppy for a while now

Descending triangles are bearish and are more likely to break down. Having said that've I've seen quite a few during this bull market eventually break up. I haven't entered a pattern like this until I see it break the trend. The only way to do this is to start making higher highs and lows. That's why breaking 5.50 is important here. Alternatively, if you could short this, I'd be looking at a confirmed break through 5.00 to sell.

Detail:

The descending triangle is a bearish formation that usually forms during a downtrend as a continuation pattern. There are instances when descending triangles form as reversal patterns at the end of an uptrend, but they are typically continuation patterns. Regardless of where they form, descending triangles are bearish patterns that indicate distribution.

Because of its shape, the pattern can also be referred to as a right-angle triangle. Two or more comparable lows form a horizontal line at the bottom. Two or more declining peaks form a descending trend line above that converges with the horizontal line as it descends. If both lines were extended right, the descending trend line could act as the hypotenuse of a right triangle. If a perpendicular line were drawn extending up from the left end of the horizontal line, a right triangle would form. Let's examine each individual part of the pattern and then look at an example.

Trend: In order to qualify as a continuation pattern, an established trend should exist. However, because the descending triangle is definitely a bearish pattern, the length and duration of the current trend is not as important. The robustness of the formation is paramount.
Lower Horizontal Line: At least 2 reaction lows are required to form the lower horizontal line. The lows do not have to be exact, but should be within reasonable proximity of each other. There should be some distance separating the lows and a reaction high between them.
Upper Descending Trend Line: At least two reaction highs are required to form the upper descending trend line. These reaction highs should be successively lower and there should be some distance between the highs. If a more recent reaction high is equal to or greater than the previous reaction high, then the descending triangle is not valid.
Duration: The length of the pattern can range from a few weeks to many months, with the average pattern lasting from 1-3 months.
Volume: As the pattern develops, volume usually contracts. When the downside break occurs, there would ideally be an expansion of volume for confirmation. While volume confirmation is preferred, it is not always necessary.
Return to Breakout: A basic tenet of technical analysis is that broken support turns into resistance and visa versa. When the horizontal support line of the descending triangle is broken, it turns into resistance. Sometimes there will be a return to this newfound resistance level before the down move begins in earnest.
Target: Once the breakout has occurred, the price projection is found by measuring the widest distance of the pattern and subtracting it from the resistance breakout.

 

[Rafa]

Re: MTN - Marathon Resources

that is amazing,
i have (as you have said) seen numerous of these patterns lately that break up

well, as i am free holding, i guess i am doing nothing else but to hold... (till it breaks down i guess )

the run last week when it went to 5.50ish really got me perplexed! i still for the life of me can't work out what that one was about...

well, wait and see...
PS: doing a fair bit of that lately...

 

[Kimosabi]

Re: MTN - Marathon Resources

that is amazing,
i have (as you have said) seen numerous of these patterns lately that break up

well, as i am free holding, i guess i am doing nothing else but to hold... (till it breaks down i guess )

the run last week when it went to 5.50ish really got me perplexed! i still for the life of me can't work out what that one was about...

well, wait and see...
PS: doing a fair bit of that lately...

I bought into these at $4.95 and then got out of them at $5.49 last week.

I wish I sold them when MTN bounced to +$6

Everything is making me nervous at the moment so I'm mainly doing quick in/out trades and trying to keep my exposure to a minimum.

I personally don't think this is the Market for any long-term investing in just about everything.

Sorry guys, that bearish feeling in me keeps raising it's ugly head.

 

[nizar]

Re: MTN - Marathon Resources

I bought into these at $4.95 and then got out of them at $5.49 last week.

I wish I sold them when MTN bounced to +$6

Everything is making me nervous at the moment so I'm mainly doing quick in/out trades and trying to keep my exposure to a minimum.

I personally don't think this is the Market for any long-term investing in just about everything.

Sorry guys, that bearish feeling in me keeps raising it's ugly head.

Change in market sentiment.
Oil and stocks breaking out like CHAMPIONS the last month or so.

Its the uranium sector thats suffering, not the "market".

 

[greenfs]

Re: MTN - Marathon Resources

Hard to argue with all that has been said lately about this stock.

I am not a holder of this stock but am now monitoring the graphs with much interest after one of my very wealthy & learned colleagues has only recently indicated that he confidently expects the sp will again double to $10+ in the short to medium term.

This is not intended as a ramp of the stock and hopefully Joe will not view it as such.

 

[Rafa]

Re: MTN - Marathon Resources

Miraculaous recovery from 4.80, now looking better, and 5.00 ish still supported. Potential short term breakout when/if it's around the green circle. Still concerned with general market toppiness, but I I've been thinking that for the past 6 months.

Miraculous is the word... What the hell just happened
Great way to finish the weekend... albiet on a lack of any major news.

 

[nizar]

Re: MTN - Marathon Resources

Miraculous is the word... What the hell just happened
Great way to finish the weekend... albiet on a lack of any major news.

Does the news matter? Or is it the price that matters?
WHich one do you profit from?

Think about it.

 

[insider]

Re: MTN - Marathon Resources

Miraculous is the word... What the hell just happened
Great way to finish the weekend... albiet on a lack of any major news.

Yes the scoping study must be around the corner... Must be a pretty good one... My assumptions are as follows:

- Greater resources other than Mt. Gee within the Paralana System

- A feasibility study will detail the extraction of the minerals and prove to be cost effective

- After this there is just one more thing... A Mining license

We are just about set for a huge run again IMO

 

[Rafa]

Re: MTN - Marathon Resources

Does the news matter? Or is it the price that matters?
WHich one do you profit from?

Think about it.

Nizar... calm down mate... i never said news was nescessary...
i don't need to think about anything...

u need to think about it, your not replying to Chris or CaptJohn... this ain't the BMN thread...

 

[Broadside]

Re: MTN - Marathon Resources

Rumour of a leak of a favourable scoping study, maybe it's true looking at that surge, we'll find out soon enough.

 

[Kauri]

Re: MTN - Marathon Resources

It looks to me that MTN may have formed into a cup, not sure if the last couple of days are the start of the handle or still in the cusp...

 

[Kauri]

Re: MTN - Marathon Resources

13/06/07 It looks to me that MTN may have formed into a cup, not sure if the last couple of days are the start of the handle or still in the cusp...

Is having a go at breaking out of the handle although the volume is not behind it as of yet... worth keeping an eye on however????

 

[Rafa]

Re: MTN - Marathon Resources

MTN has closed at $6.45 which is its all time high...
gotta love this quietly moving stock...

where to from here???

 

[billhill]

Re: MTN - Marathon Resources

MTN has closed at $6.45 which is its all time high...
gotta love this quietly moving stock...

where to from here???

Not wrong Rafa. I've noticed some strength coming back into uranium stocks lately if only a little. As i said on the paladin thread the exodus of money from the U sector has led to some quite attractive opportunities IMO (maybe the oil and gas sector is looking fully valued). This being one of them. A huge resource, a state government more freindly to U mining then WA or QLD and the U price continuing to head in one direction. I think we will see a more steady run in U stocks with stable and good fundamentals. Companies like PDN and MTN are my prefered.

 

[insider]

Re: MTN - Marathon Resources

There is speculation that the scoping study is due at the end of June or perhaps early July... It is nearly the end of June... MTN is again defying the Market trend as people are beginning to realize that MTN is the best value stock around... Good luck to all holders and new comers

 

[Lachlan6]

Re: MTN - Marathon Resources

I reckon (MTN) is about to leg it higher. It has been consolidating since April and today broke resistance in a down market. Look at the 50 day EMA as a level of support and possibly a good place to trail stops in the mean time. Look for longer term targets of $10.8 being 100% of the range from July last year to April this year. Only negative is steep divergence in MACD and RSI. However this means just be a little careful IMO, but apart from that, the chart looks spot on. Not to mention OBV, insto's love this one.

 

[Sean K]

Re: MTN - Marathon Resources

I reckon (MTN) is about to leg it higher. It has been consolidating since April and today broke resistance in a down market. Look at the 50 day EMA as a level of support and possibly a good place to trail stops in the mean time. Look for longer term targets of $10.8 being 100% of the range from July last year to April this year. Only negative is steep divergence in MACD and RSI. However this means just be a little careful IMO, but apart from that, the chart looks spot on. Not to mention OBV, insto's love this one.

Absolutely. Looks pretty good, and has responded well to long term upward trend line. Not sure about price targets from here using fibs and ranges. I haven't seen those projections being very reliable. I'm not too concerned with MACD here as the early spike to 6.40 which was an abberation IMO, and significantly influenced the indicators putting them out of sinc. Or, maybe they still have an influence? Up for argument.

 

[Lachlan6]

Re: MTN - Marathon Resources

Nah agree with you Kennas. A lot of the time divergences can be counter the overall trend with little effect. In this case probably the case. Wanted to buy MTN this morning but jumped a little too far I think, may have to wait for a lsight pullback.