Mineral Resources is a mining services company with operations across lithium and iron ore. “The share price trended lower during 2023, mainly because of falling lithium prices,” Michael said.
“However, with lithium prices and iron ore prices looking like they have hit a low, so has the share price of MIN.
“MIN had been drifting lower for the past year but it is finally breaking out of that downtrend and starting to move into an uptrend.
“On a weekly chart, MIN is now making “higher highs” and this is major sign that a recovery is underway.
“There was also a strong band of resistance between about $67 and $74 that MIN has overcome, and that is a positive sign.
“I expect the share price to go on from here and retest the old highs above $90,” Michael said.
Mineral Resources (MIN)
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