Manas Resources Limited (ASX:MSR) Headed to Lower
This is not a bad company but it is just another multi billion shares dilution festival. The good news is if you own it it may post another run before it implodes.
MANASRES FPO closed down -0.001 at 0.003. Volume was 23% below average (neutral) and Bollinger Bands were 6% wider than normal.
Open High Low Close Volume___
0.004 0.004 0.003 0.003 6,220,000
Short Term: Neutral
Intermediate Term: Bullish
Long Term: Bearish
Moving Averages: 10-period 50-period 200-period
Close: 0.00 0.00 0.00
Volatility: 359 364 336
Volume: 8,321,621 10,139,433 4,698,642
Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.
MANASRES FPO is currently 16.3% below its 200-period moving average and is in an upward trend. Volatility is low as compared to the average volatility over the last 10 periods. Our volume indicators reflect moderate flows of volume out of MSR.AX (mildly bearish). Our trend forecasting oscillators are currently bullish on MSR.AX and have had this outlook for the last 24 periods.
A big black candle occurred. This is bearish, as prices closed significantly lower than they opened. If the candle appears when prices are “high,” it may be the first sign of a top. If it occurs when prices are confronting an overhead resistance area (e.g., a moving average, trendline, or price resistance level), the long black candle adds credibility to the resistance. Similarly, if the candle appears as prices break below a support area, the long black candle confirms the failure of the support area.
During the past 10 bars, there have been 0 white candles and 1 black candles for a net of 1 black candles. During the past 50 bars, there have been 16 white candles and 9 black candles for a net of 7 white candles.
Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.
One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 33.3333. This is not an overbought or oversold reading. The last signal was a buy 1 period(s) ago.
Relative Strength Index (RSI)
The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 49.41. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 22 period(s) ago.
Commodity Channel Index (CCI)
The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is 27. This is not a topping or bottoming area. The last signal was a sell 0 period(s) ago.
The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a sell 13 period(s) ago.
Manas Resources Limited is an Australian-based gold developer in the Kyrgyz Republic with substantial resources, drill targets and a land holding in the Tien Shan gold belt. The Company’s principal activity is acquiring, exploring and developing mineral interests, prospective for precious metals and other mineral deposits. The Company’s segments include Kyrgyz Republic and Corporate. The Company has a mineral resource base of approximately 1.18 million ounces of gold at the Obdilla and Shambesai prospects, which are over seven kilometers apart and are part of the South Kyrgyz Gold Project. The Company continues to advance the development of the Shambesai Gold Project (SGP) in the Tien Shan gold belt in Central Asia’s Kyrgyz Republic. The South Kyrgyz Gold Project covers a land holding over five projects and a Bankable Feasibility Study (BFS) has been completed for an approximately 50,000 ounce per annum Shambesai Gold Project. Its subsidiary is Manas Holdings (Kyrgyz) Pty Ltd.