Here’s a few of my observations re trade in MAT:
This leads me to make a few conclusions:
- MAT’s close at 18 today is a break of the downtrend from June 2014 on a daily and weekly chart.
- Today’s volume is the highest in about 5 weeks. And that was the highest volume in about 7 months.
- In the past 11 months, volume in MAT has been almost non-existent.
- 3 out of the 4 previous days with volume exceeding 200K were accompanied by an announcement.
Guess only time will tell.
- An announcement of some sort is imminent.
- They are about to start drilling Symons Hill very soon – this has been reported, and interest is building in anticipation.
- There is A LOT of skepticism surrounding MAT and Symons Hill and rightly so. A few conductors have already been drilled without any real success. As I see it, this is their best chance yet given the similar characteristics to SIR’s conductors.
- There is going to be technical resistance in MAT at so many levels it’s ridiculous – 19, 20, 22, 25, 30, 35, 38 etc.
- If MAT gets a sniff at Symons Hill, all those technical levels will be destroyed in the blink of an eye.
- The money being thrown, or rather not thrown, at MAT the past several months is negligible. A $1m+ trading day in MAT would mean that it’s game on, and blow the top off the stock.
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Last
2.8¢ |
Change
0.000(0.00%) |
Mkt cap ! $15.41M |
Open | High | Low | Value | Volume |
3.0¢ | 3.2¢ | 2.8¢ | $23.24K | 776.8K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 375419 | 2.6¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
3.0¢ | 300000 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 375419 | 0.026 |
3 | 306770 | 0.025 |
2 | 49000 | 0.024 |
1 | 40000 | 0.023 |
2 | 430000 | 0.022 |
Price($) | Vol. | No. |
---|---|---|
0.030 | 300000 | 1 |
0.031 | 28190 | 1 |
0.032 | 158199 | 2 |
0.033 | 33000 | 1 |
0.034 | 300000 | 1 |
Last trade - 10.06am 17/07/2024 (20 minute delay) ? |
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MAT (ASX) Chart |