I should listen to my own advice. Just over 12 months ago I posted this when MLX was about 16/17 cents.
"For what it is worth, here's my opinion on their prospects, if they can get through the resistance levels currently being encounted. They could get to the high 20's or low 30's. Beyond that will be difficult, mostly because long term frustrated holders will be bailing and there has been a big turnover in the 10 to 15 cent range and those buyers will be mostly exiting, with a handy profit. I will also consider selling, with a view to re-entering at a lower price. But like I said, when I prefaced this paragragh. It's just my opinion and opinions mostly count for naught!!"
From memory they got to 28 cents. (pre-consolidation ) I'm currently finding it a little more difficult to define as to where they are going. It's a fickle market and they are bouncing around on very low volume. I'd like to see much larger volume going through, so as to feel more confident in their more recent rise.
Don't get me wrong. I, like you have faith with this company and it's management. But I am a little jaded and will probably hit the exit button if we again get to the preconsolidation price of about 30 cents; $1:20 obviously. Which I think is inevitable, but am clueless as to when.
Cheers
GKP
MLX Price at posting:
85.0¢ Sentiment: Buy Disclosure: Held
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