For PDS and Fact Sheet of MVR.ASX please visit Van Eck Australia website if you wish. In total, MVR has 25 Australian resource stocks under one umbrella. Top three holding s are in the order of BHP,RIO and WPL.
MVR trend analysis : All trends , short, medium ( intermediate) long (major) are up.
The largest volume coincided with a small ranging bar in the first week of Feb. may suggest potential medium term top within a major uptrend may unfold at current levels.
Those of us who are proficient with Elliot Wave (I am not) may also suggest a completion of a 5 wave motive pattern which may be followed by a three wave corrective pattern.
I am marking couple of important support levels on the chart which are worth watching should we see a further corrective period, which may be likely.
Ratio analysis at the bottom window suggesting that MVR is no longer in a relative major uptrend against XAO.
Double Click on weekly MVR chart below to see the enlarged version.
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