The sort of decline MPO is having is a real nasty one for being able to catch investors who expected the price to quickly recover instead of now being 15c.
1. We had the August stock market sell off which cleverly hid what was happening to the MPO share price, followed by an initial bull trap bounce by MPO.
2. We were then expecting a price recovery due to the placement at 25c.
3. There have been a number of bullish announcements since that placement that offered hope for a price recovery. But each announcement was met with renewed selling.
4. Since the August market sell off most stocks have recovered beautifully. With all that green around it was easy to expect that MPO, with so much apparently going for it, would also recover.
5. The nature of MPO's decline, following the August market sell off and bull trap recovery has been drip, drip, drip ... half a cent down one day, a cent down the next, steady the day after, then a rise of half a cent followed by a fall of a cent the following day.
6. With a decline like this it is easy to think, "Next day we'll start a proper price recovery."
But it has not so far happened.
MPO Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
