Section 1: Company Overview and Fundamental Insights
1.1 Company Overview:
Magnis Energy Technologies Limited (ASX: MNS) is a vertically integrated lithium-ion battery technology and materials company in the Lithium-ion battery supply chain. MNS envisage enabling, supporting and accelerating the mass adoption of Electric Mobility and Renewable Energy Storage, which is critical for the green energy transition.
1.2 The Key Positives, Negatives, Investment Highlights, and Risks
1.3 Top 10 Shareholders:
The top 10 shareholders together form ~16.63% of the total shareholding. Mazzdel Pty. Ltd. and Equity T S Pty. Ltd. holds a maximum stake in the company at ~5.70% and ~2.14%, respectively.
1.4 Key Metrics: Below mentioned are the key metrics of MNS:
Section 2: Business Updates and Financial Highlights
2.1 Business Updates
2.2 Key Quarterly Financials:
Section 3: Key Risks & Outlook
Section 4: Stock Recommendation Summary
4.1 Price Performance and Technical Summary
Markets are trading in a highly volatile zone currently due to certain macro-economic issues and geopolitical tensions prevailing. Therefore, it is prudent to follow a cautious approach while investing.
Note 1: Past performance is neither an indicator nor a guarantee of future performance.
Note 2: The reference date for all price data, currency, technical indicators, support, and resistance levels is 10 February 2023. The reference data in this report has been partly sourced from REFINITIV.
Note 3: Investment decisions should be made depending on an individual’s appetite for upside potential, risks, holding duration, and any previous holdings. An ‘Exit’ from the stock can be considered if the Target Price mentioned as per the Valuation and or the technical levels provided has been achieved and is subject to the factors discussed above.
Technical Indicators Defined: -
Support: A level at which the stock prices tend to find support if they are falling, and a downtrend may take a pause backed by demand or buying interest. Support 1 refers to the nearby support level for the stock and if the price breaches the level, then Support 2 may act as the crucial support level for the stock.
Resistance: A level at which the stock prices tend to find resistance when they are rising, and an uptrend may take a pause due to profit booking or selling interest. Resistance 1 refers to the nearby resistance level for the stock and if the price surpasses the level, then Resistance 2 may act as the crucial resistance level for the stock.
Stop-loss: It is a level to protect further losses in case of unfavourable movement in the stock prices.
The Green colour line reflects the 21-period moving average. SMA helps to identify existing price trends. If the prices are trading above the 21-period, prices are currently in a bullish trend (Vice – Versa).
The Blue colour line reflects the 50-period moving average. SMA helps to identify existing price trends. If the prices are trading above the 50-period, prices are currently in a bullish trend (Vice – Versa).
The Orange/ Yellow colour line represents the Trendline.
The Purple colour line in the chart’s lower segment reflects the Relative Strength Index (14-Period), which indicates price momentum and signals momentum in trend. A reading of 70 or above suggests overbought status, while a reading of 30 or below suggests an oversold status.
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