Does anyone have a view in short term play for MTM? . It was good to see Mr/s E being kind this week. Thanks. I can post now without much guilt. . From a weekly perspective, MTM had moderate drop. It moved from 17.5 to 16. A high of 18.5 and low of 16. . So what is happening? Its playing in an indecisive state. I think that is the same I wrote last week. Overall trend from 30.5 is still down. Week after week. Last week gave some hope. 18.5 looked good. But could not be sustained. Its slowly reaching a state that hype alone may not work, it needs back, solid backing, from fundamentals. Till that time - chop/chop. . So have we made another mini bottom at 12.5? As I wrote last week, we still don't know. If one can provide very good/convincing reasons why it has dropped from 30.5 to 12.5 and is now rising, then we can have a think. At this stage, there is nothing big. Even the rise on Friday, it was not on very big volume. We had several more higher volume days in just over a week. So I am holding my opinion on bottom. . Personally I have been trying to play the pattern. Last week I wrote my average was 16.5. I did get out of fair few at 18.5, just to lock in something. Previous week I had got out half at break even as I wrote then.. Still holding some but now only around 20% of original. Want to see some strong play, or a strong announcement, till then I wait. . So what may happen next week? Not sure. Honestly.
MTM Price at posting:
16.0¢ Sentiment: Hold Disclosure: Held
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