MTM Chart, page-2873

No stopping for this stock, isn't it?.
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From a weekly perspective, moved from 37 to 49.5. I had written last week was good. This week was spectacular. Nearly 33% gain on much higher volume. Made a new 52 week high of 53 today.
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So what is happening? Last week I had written how the trading pattern for previous 3 weeks was consistent, and good. This week the story continued. And the play is being backed by positive news. This play had chapters (since rising), from mid teens to mid 20s, from mid 20s to mid 30s, and now from mid 30s to 50s. Percentage increase would be similar in each of these phases. But one thing was very strong. Who ever is playing, know what its doing. When it moved from mid teens to mid 20s, it didn't let the range go - like dropping below 20s and stuck there even for short period. Then when it moved from mid 20s to mid 30s, again, it didn't let it slip. Sometimes down, mostly intra-day, but held the level. Same play happening now around 50. I though about it last week when it was holding mid 30s, and the feeling I got was the play was around accumulation. Steady accumulation. As if when someone has seen the end, knows its good, and plans how to reach there, by maximising their play. It was very evident this week as well.
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Last week I had written I was not sure of what the next technical announcement would be. Just shows a bit of my ignorance on this topic. MTM came with a very strong technical announcement this week. So now I am open to the thought, that we could get more. Not sure what, but we may. One of the things of re-rate is to make sure that one keeps on feeding the fuel for the rise, and that seems to be happening very well here.

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Personally, MTM has been good for me, and I am sure for everyone who is playing this. Stocks which make 52 week highs for weeks and weeks, are the ones where very few lose. I had a one big full bag gain when I exited in mid 30s. Then I was waiting to see how it plays out. The ones who were playing, were doing it so clinically in mid 30s as they did in mid 20s, that it was obvious. So I wrote last week that I got in 32 after seeing exact play of mid 20s. I also wrote that I hadn't bought back as much as I had exited. But picked up a few more along the way and my average has steadily increased to 36 now for this phase. Until something dramatic happens, I hope to see at least another one bag before an action. But I follow patterns, a drop of 15% from high, I start thinking, more than that, I usually get out. I don't get right all the time, but many times it helps. So have a good buffer for now. These are the times I envy those who just keep holding - they maximise usually if share is doing well.
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So what may happen next week? If the pattern continues, we could see 60s. Any news will help. Needs to hold mid 40s I feel. Reason being the big players have been playing this from mid-teens. They are in good profits. We don't know their targets. Hopefully much higher. But good to keep that in mind if trading pattern doesn't look great. But for now, there are no signs of that yet. Well, some may think, this may only be the beginning. All the best.