TechWizard Sees More Weakness For MGX And WTF

Array
(
    [0] => Array
        (
            [0] => ((PPT))
            [1] => ((MGX))
            [2] => ((WTF))
        )

    [1] => Array
        (
            [0] => PPT
            [1] => MGX
            [2] => WTF
        )

)

This story features PERPETUAL LIMITED, and other companies.
For more info SHARE ANALYSIS: PPT
The company is included in ASX200, ASX300 and ALL-ORDS

By Rudi Filapek-Vandyck

In addition to his bearish view on global share markets in general, the TechWizard reports on Wednesday morning he has identified a few individual stocks that display bearish signals on price charts.

Earlier today we published a story on Perpetual ((PPT)). In addition, the Wizard has sent us price charts for iron ore miner Mount Gibson ((MGX)) and online reseller Wotif.com ((WTF)) that do not exactly look pretty.

As far as Mount Gibson goes, the Wizard suggests now that the shares have fallen below $1.51 it is likely the market's focus will shift to $1.30 (possible later this week, he adds).

Regarding Wotif.com, the Wizard suggests breaching support at $6.30 probably means the shares are on their way to $5.10.

The Wizard reports he is at present not a shareholder in any of the companies mentioned.

See also stories published earlier today “Bearish Triangle Breakout For Perpetual, TechWizard Reports” and “4500 Looming For The ASX200”

The TechWizard is the pseudonym of Scott Morrison, whose experience in financial markets exceeds twenty years. Morrison operates his own website nowadays at www.techwizard.com.au

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