What is Happening to the Share Price of Melbourne IT Ltd?

Melbourne IT
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What does Melbourne IT Ltd do?

Melbourne IT Limited [ASX:MLB] is an online solutions provider, helping businesses establish their online presence and build their social and digital profile. From essential Iinternet components as such as domain name services, hosting and email services, through to do-it-for-me website design.

That’s interesting, but what does the chart look like?

What does the chart look like?

I personally find it helpful to bring up a chart. Here’s the daily chart of MLB updated:

Melbourne IT

Source: STEX

The share price had another big day, rising to a high for the day of $1.90. The chart is telling you the business model is satisfactory at present.

What now for MLB shares?

We could expect positive news to come from this company,; let’s wait and see. Curiously, the last significant news announcement was well over a month ago.

Can you see that the market is ahead of what you are reading in the financial press? If you can’t see that, then you need gain a little charting knowledge. Go here to find out more.

Cheers,

Terence Duffy,

Research Analyst, Cycles, Trends and Forecasts

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1 Comment on "What is Happening to the Share Price of Melbourne IT Ltd?"

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John Durr
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MelbourneIT is a hopelessly run company. We design websites and the support from them is next to non existent. I was so frustrated that I hand delivered a letter in person to the CEO Michael Mercer – no reply, no satisfaction.

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