charts, page-6

No doubt there will be a few replies to your question.
I'm prepared to offer an opinion and would appreciate feedback from the experts.
What about the suggestion that MAK is out of its downtrend and about 3 months into an accumulation phase. There is a rectangular pattern in the 40-70c range.
There was a volume spike and attempt at breakout in early January but his failed. Otherwise volumes have been low.
If this is the case then expect range trading within these boundaries until either a significant announcement is made and/or the macro-economic situation improves. As interest rate cuts may help but I'm not so sure. I can only speculate but such an announcement may be along the lines of outstanding metallurgy or a sound offtake/finance deal.
The textbooks suggests the longer the duration of accumulation the more explosive the break. The range above would suggest that true technical traders probably aren't going to be interested until a break above 70c is confirmed and they aren't going to be buying if it goes below 40 either.
The sellers now are probably bored of waiting and watching a boring chart or poor traders who haven't had their quick profit.
Those accumulating believe the story and probably exercised the options and are mopping up. The couple week drill delays and speculation about short RP prices or 10-20c quick profits don't concern them. Similarly whether mining occurs in 10 or 12 or 15 months probably isn't an issue. I wouldn't be surprised to see another Director buy notice soon at these levels.
I personally feel the phosphate run on the ASX 10-11 months ago probably burn't alot of punters and may account for the negativity shown by the "waiting for 10c" or "dog stock" or "not another PDN" brigade.
The guys who suggested it was a bubble were correct in their short term appraisal. One only has to look at most of the other stocks who gave out phosphate "chip" or adjacent tenement announcements.