MTM Chart, page-848

Are we ready?
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Yes MTM gained 2.5c to finish at 19.5c. Our volume was still good and higher side of medium, just over 7.3m shares traded. We opened at 17.5, touched high of 20.5 and finished at 19.5. So on much better volume we have finally touched 20, no in fact 20.5. Those following charts/trading patterns - I am sure many will be happy and we may have some new visitors tomorrow.
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ASX REE stocks had a mixed day with some gains and losses. Of the 26 REE stocks (list in my Weekly Report) that I track, on average across 26 stocks it was flat - no gain or loss.
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On Friday I wrote - "So next week it would be good to hold 17. If we go up, a play in the 20s would be good". Somehow it has played out that way, at least for today. I had also said on Friday that we had done over a week trading around 16/18 - consolidating, allowing people who are happy to take profits and who feel they have met their objective - to leave gracefully. I like this trading, a rise with consolidation. This sets us up well not only to reach higher, but more importantly to keep the gains. So its looking good, but as usual, anything can happen so please dyor.
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Whole of last week I had said that now we are playing in the 15.5/22 trading range. 15.5 had acted as a good support. When we reached higher, I had a feeling 17 may act as a good support, and fortunately it. Next number? Surely its 18. We played around 16/18 for sometime. If things don't go well, it would be good to hold 18. But odds are we may not have to worry as the momentum is good and we may trade in the upper range of this trading range of 15.5/22
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So what will happen tomorrow? It would be good to cement 20s trading. It would be good to get to a new 52 year high by crossing 22. Many who have been here for sometime may feel that the time is now. We still need that to happen and possibly have lady luck on our side as well. Will that happen? Lets hope so. All the best.