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MLX - Metals X Limited

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Looks to be setting up for a breakout higher...

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Recent price action on MLX looks encouraging stair stepping up for a breakout, I'll put on a trade to buy the breakout and follow trend with a trailing stop.

Tin price is looking very positive, which adds more evidence to validate the trade setup for MLX:

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Gotta be happy with this one. :D Buy and hold or trade plan?

View attachment 130677

In speculative portfolio, every stock is traded. Proof is we sold out of this stock recently only to buy the breakout once again as the company fundamentals didn't change when the original trade didn't work out.

It looks like a profitable trade at the moment buying the breakout, this time around :xyxthumbs
 

Sean K

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This has been fantastic to watch, just wish I was on board. Not sure why I didn't jump on, maybe preserving cash for a breakdown and saw better value elsewhere. But, I've been wrong. This has been a champ. Nice and steady, nothing crazy, just onward and upward...Great pick @aus_trader

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This has been fantastic to watch, just wish I was on board. Not sure why I didn't jump on, maybe preserving cash for a breakdown and saw better value elsewhere. But, I've been wrong. This has been a champ. Nice and steady, nothing crazy, just onward and upward...Great pick @aus_trader

View attachment 131517
Thanks @kennas :xyxthumbs

Could have easily sat on the sidelines because the first attempt in the speculative portfolio earlier got stopped out. The turn-around in the company fundamentals provided sufficient conviction to dust off the losses and have another go.
 
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even with $xjo in sell mode, $MLX should keep its upwards trajectory, until the value has been squeezed out

the 0.345 level is a ratio and structural level, its a normal retracement, a 1 to 1 (simple abc)
snapping 345's would be critical for the upside, out at .340's for mine if that prints (excluding the SPA)

todays a no-window-dressing end of month sell across the board locally,
i suspect we'll see some support come in for mlx on monday 1st

the CRB is about to hit a standard 38.2% retrace level 244 (Reuters) and has been in a very tight channel
with TIN being on a high and sentiment for TIN and MLX on a general high it is important to stick to a trading plan

so long as the .345 soldifies nothing to do

gold is clearly in a funk, so too palladium, the rocketing of TIN has been stellar in comparison but it commods come completely off the boil thru the CRB lens then its smart to trim/pare/scale/exit to lock in profits

#idea
 
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$major indexes are in bale mode, decent stocks will pare backa few % as managers rebalance/adjust (some on margin)
if the construct of a trend is good it should afford the range to pare and then eventually value take it back on course

 
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most holders have rec'd the proxy forms and necessary updates etc
technically the generic indicia suggest a weaker higher high weekly basis
... if we look at the structure pov it belies data based on volume alone
 
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$mlx price may want to take some time to track sideways as expansion taps the roof of the channel, structure says we have a few more shekels to go, if we close above the channel we can expand x 2


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