Morien Resources (TSXV: MOX) on Monday successfully surpassed and closed above its most important key breakout point of $0.47 per share! Historically, MOX's biggest short-term rallies have taken place after MOX breaks through $0.47 per share. We believe MOX's rally that will occur over the next few weeks will make every one of MOX's previous short-term rallies look miniscule in comparison!
After breaking through $0.47 per share for the first time on February 1, 2017, MOX exploded by 21.28% to $0.57 per share within 24 hours! On March 8, 2017, MOX hit a new all-time high of $0.74 per share. MOX rallied by 57.45% from its key breakout point of $0.47 per share within five weeks!
On November 14, 2017, MOX dipped to $0.47 per share and MOX's key breakout point became MOX's key support level! MOX bottomed at $0.47 per share and bounced by 27.66% to $0.60 per share within 72 hours! One month later on December 18, 2017, MOX hit a new all-time high of $0.77 per share! MOX gained by 63.83% from its key support level of $0.47 per share within five weeks!
The second time that MOX successfully surpassed and closed above its most important key breakout point of $0.47 per share was on January 14, 2020! Within 24 hours, MOX exploded by 12.77% to $0.53 per share! On January 27, 2020, MOX hit a new 24-month high of $0.65 per share. MOX rallied by 38.3% from its key breakout point of $0.47 per share within two weeks!
MOX has much less shares outstanding today than in 2017 and 2020! U.S. Coking Coal is now significantly higher than its 2017 and 2020 prices! The infrastructure is now in place for the Donkin Coking Coal Mine to produce/export significantly more coking coal than in 2017 and 2020!
When MOX returns to its all-time high of $0.77 per share it will still be extremely undervalued!
Past performance is not an indicator of future returns. NIA is not an investment advisor and does not provide investment advice. Always do your own research and make your own investment decisions. This message is not a solicitation or recommendation to buy, sell, or hold securities. This message is meant for informational and educational purposes only and does not provide investment advice.