Here’s a few of my observations re trade in MAT: MAT’s close at...

Here’s a few of my observations re trade in MAT:

• MAT’s close at 18 today is a break of the downtrend from June 2014 on a daily and weekly chart.
• Today’s volume is the highest in about 5 weeks. And that was the highest volume in about 7 months.
• In the past 11 months, volume in MAT has been almost non-existent.
• 3 out of the 4 previous days with volume exceeding 200K were accompanied by an announcement.

This leads me to make a few conclusions:

• An announcement of some sort is imminent.
• They are about to start drilling Symons Hill very soon – this has been reported, and interest is building in anticipation.
• There is A LOT of skepticism surrounding MAT and Symons Hill and rightly so. A few conductors have already been drilled without any real success. As I see it, this is their best chance yet given the similar characteristics to SIR’s conductors.
• There is going to be technical resistance in MAT at so many levels it’s ridiculous – 19, 20, 22, 25, 30, 35, 38 etc.
• If MAT gets a sniff at Symons Hill, all those technical levels will be destroyed in the blink of an eye.
• The money being thrown, or rather not thrown, at MAT the past several months is negligible. A $1m+ trading day in MAT would mean that it’s game on, and blow the top off the stock.

Guess only time will tell.