TAjames

MNS has had a strong week, but its not ready to move higher.

Long
ASX:MNS   MAGNIS ENERGY TECHNOLOGIES LTD
I believe there is to much overhang in the red candles from last week. But strength this week has shown holders that the company is still sought after. I feel one more recoil to test 36c followed by a couple weeks under 40c will allow a strong move for MNS next time that wont be sold into. Still see MNS as a $1 company in the future, but for now there is still a lot of selling pressure around that would keep the share price under 40c. I could be wrong, but id rather be right so that MNS next move is a strong one.
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