Well, a falling stock price, certainly brings in lot of interest. And animation. Usually when price is rising, we don't see it that much. So lot of opinions floating around now. Which is not unusual.
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MTM has had a big rise. It was also one of the very derided stocks of old - very bad history/baggage it carries. So always an interesting case.
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The most common point/theory looks like whether we have topped around 30, and now just going down. To corroborate that theory, some data around lower highs, lower lows, etc. So has some decent points in its favour.
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Other theory is that it is bottoming over here, and looking for a bottom, before the next rise. Especially around the 22 mark. Few years back when I played MTM, it topped at 22. When it was coming from single digit, it made a high of 22 in mid December, before dropping to 13.5. It did a 22 last week. This week and today, it has done another 22. In fact closed at 22. So we can see 22 is an important number. Some are saying it will not hold on Monday, its possible. But it may. For me, personally, I am more into trading patterns, I am more keen that 20 holds, if it goes there. A 22 hold will be very bullish. Going towards 20, will open a lot of question marks. For now I am holding and have added a few more this week. So an interesting play coming up next week. All the best.
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