Interesting question dj, one I have been asking myself for the past seven years!
There seems a lot of interest at present. I think the stock turns bullish at about 18 - 19c, and from that point we will see a lot of upside (in my opinion). My medium term target is about $ 1 and a more long term target well in excess of that.
This is a very special stock, not one for widdows or orphans!
The current movements are very interesting and the stock is moving up towards the bullish point, but I would have to say that we dont have enough evidence yet to say that it is about to take off.
Given the small size of the capialisation of this stock, in my view the natural spread in price (between volume sellers and volume buyers) is between 7c and 16c.
Based on this thesis, current movements dont provide enough evidence of a breakoit.
Thats why I want to see a breakout above 18-19c.
What is very encouraging is the current level of volume. Its abnormally high at present and it would seem that there are buyers out there who really want the stock.
Carls says they are offshore investors.
Its reasnably expensive to buy ASX stocks overseas, especially penny stocks such as MTB due to the small pockets of stock available and the broker costs on each transaction in acquiring offshore shares.
To invest in such a share requires great confidence in it and a desire to acquire and hold substantial volumes.
This can only be good for MTB.
I am certainly not selling my stock at the moment!
But please, do your own research!
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Last
0.1¢ |
Change
0.000(0.00%) |
Mkt cap ! $1.298M |
Open | High | Low | Value | Volume |
0.2¢ | 0.2¢ | 0.1¢ | $679 | 418.4K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
27 | 49727232 | 0.1¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
0.2¢ | 22122561 | 11 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
26 | 49694089 | 0.001 |
0 | 0 | 0.000 |
0 | 0 | 0.000 |
0 | 0 | 0.000 |
0 | 0 | 0.000 |
Price($) | Vol. | No. |
---|---|---|
0.002 | 22122561 | 11 |
0.003 | 9676534 | 12 |
0.004 | 7597931 | 13 |
0.005 | 7235581 | 6 |
0.006 | 2250000 | 5 |
Last trade - 11.45am 13/09/2024 (20 minute delay) ? |
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