mgo: a better value proposition than sfr, page-40

lightforce

I have asked mitta, on the charts thread to look at this stock from a volume perspective, which is his specialty. Clearly smart money, as he calls it, was selling on 28th March when big volume went through and the sp closed on its low.

The next few days will be interesting I think.

One theory I had was that this was a classic pump and dump. $63m raised in december and the stock pumped to 42c. now drifting as profits are taken. I might be wrong about that but until the supply around 32c is exhausted and perhaps a shakeout of weak holders the stock may not rise from here.

Having said that I think we are also at the bottom or just outside a rising channel - 2 weeks old and it could spring back any moment. I just think the sm is sitting on the side lines for now - as am I. I will post again if mitta gets back to me on the charting thread with his views.

Warning ; I am a charting novice and these are just my thoughts.