Building very well, as we speak! Looks like a solid chunk of 36.5 will be taken on the open, which will take us part way over the hump (which is relatively small any way!). If someones keen to build a sizable stake, that 167k and 37 will be looking ripe for the picking. Seller depth is currently pretty thin after that.
Hopefully most traders are out by now and there won't be much profit taking as the share price potentially rises.
The beauty about this play is, most are in until the end. So there would be few serious sellers. As a result, price rises could be quick!
Also, a lot of the shares being picked up will be by investors who are also wanting in until the end. If all plays out well, I can imagine a real shortage of shares on offer being a possibility and the share price responding accordingly.
If this happens, it would form a solid base at a good price, prior to any potential takeover offer.
MAE Price at posting:
35.5¢ Sentiment: Hold Disclosure: Held
