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Tuesday, 08/29/2023 2:26:42 PM

Tuesday, August 29, 2023 2:26:42 PM

Post# of 420
MNGG... this one caught my eye. but, then, my vision isn't what it used to be. so what did i see?

depite the size of the OS, 7+Billion, it only trades around 20-25M a day. that's not enough to move it one way or another. the chart shows its a range lock trader. this .0002-.0003 area appears to be the relative bottom. yeah, i know. can't go much lower. but the volume is up recently, though its predominately on the bid. but that's where my interest lies.

according to the Transfer agent, the OS is unchanged. and though there has been no newly issued shares in over a year, someones hitting the bid on a regular basis. its not company dilution. so.... if i were to hazard a guess, i'd say these are shares coming available into the float, which was recorded last year at 5.9B. there are 7B shares currently held at the DTC, and when i look at the chart i see the accum/dist rising, and the OBV staying relatively stable. iow, there's an equilibrium here between the buyers and sellers. someone is quietly accumulating.

https://www.barchart.com/stocks/quotes/MNGG/technical-chart?plot=CANDLE&volume=total&data=DO&density=X&pricesOn=1&asPctChange=0&logscale=1&indicators=BBANDS(20,2);SMA(13);PTP(50);SRSI(14,14);ADX(14);ACCUM;MACD(12,26,9);SMA(50);WILLR(14,40);SMA(20);SMA(8);CHKMF(20);MFI(14,100);OBV;CHKOSC;SMA(34);RSI(14,100);RSI(14,100);RSI(6,100);STOFA(14,3);STOSL(14,3);TRIX(15)&sym=MNGG&grid=1&height=500&studyheight=100

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