Today MTE had a notice of change for a substantial holder. I guess we've found the reason as to why MTE have been rising.
I can't see it going and staying at $1, contrary to what the overly optomistic holders over at the MTE thread say.
With big gaps in their chart, their share price is likely to retrace. Whether or not it will bounce again remains to be seen. My chart says they'll have good support at least at 43c (maybe higher if others step in or if this guy isn't done yet).
At 43c, MLM should hold at 33c by my calculations. In the meantime, if MTE holds above that, expect MLM to trade above 33c. In the short term, another run to 36c or higher is not out of the equation, but I strongly feel it'll eventually settle at 33c.
MLM Price at posting:
35.1¢ Sentiment: None Disclosure: Not Held
