Moni Breakout next week?

ChartMan

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Been watching MONI closely today for evidence of a breakout attempt. Nearly happened , but I think profit takers were in force, bringing the close to 34p from a high of 38p. I watched the 37p break closely and thought it was going to happen, but it failed.
A close next week above 37p, which I think will happen, should see their price move up to the next resistance at 49/50p, with a final TA target of 54p.(+50%) That would be 400% in under two months.
Did we ever see that power of performance in the "Tech Boom " days? I think not. He who dares wins......
 

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Here's the breakout, on good increase in volume.
Intraday action-A test of resistance at 37, followed by a breakout to 38 and a test of 37 support.Up to a peak of 42, settling on support at 40.Onwards to the target of 50/54?
 

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Went Long at 34p

However, disagree with the target of 50/54 p. Closed the week higher than 37p and now an established trend in the longer time frame.
Above 50/54p and we have clear air. It will be up to Profit takers at that stage but also above 50/54p we should see a technical kick in to drive it higher. Targets above 50/54p are 70 p and then £1.

Of course total speculation as the underlying share is still toilet paper. However Long £100 pp at 34p with stop at the ame level.

Taimur
 
Yes, I go along with that. My estimated target of 50/54 was just the "short term" target, with no sight beyond that.
 
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