A short lived breakout and a false breakout now confirmed that couldn't change the current downtrend since the last high of 5.7c on the 9th of January; the close yesterday at 4.6c had showed weakness and the Hourly Chart was showing the trend reversing down but today it (as TMG tends to do) abnormally and abruptly did a V shape turn and gapped up open to 4.8c, touched 5c and tried to break through with some buys taking out that wall.
But once again was smacked down and then the rest follow.
The 'u' buyer at 4.5c disappeared as soon as more volume sold into it.
Rejected the 5c resistance level after breaking through 4.7c; lots of supply to the left from the previous move up.
As per a previous post of mine; above 4.2c still remains to be the 'Distribution Zone' and below that the 'Accumulation Zone.
Manipulation continues as usual, more than I've seen in many other stocks; usually this would have been taken to over 10c by now but when ever it gets a hint of trying to breakout and move big (like LRV has gone from 72c to 93c within a few days); TMG gets knocked down and stopped in its tracks. Needs another player to come in with just as deep pockets as who ever is controlling this and fight back, otherwise it's a rollercoaster ride and there's only one track in control.
Triple Bottom at 2.8c to 3.2c level now comes back into play here after that clear rejection of 5c (unless these manipulators decide to stop it again at the 3.8-4.2c level) otherwise a good flush out would be great before any serious works start.
Antimony prices will continue to rise, land access for WCC is the hurdle that needs to be ticked off but once that is done TMG will probably gap up to significantly higher levels, but there is the Spartan project next to LRV that is also of value and the Drummond Gold-Antimony project.
For now I've reduced my holdings significantly after it failed to break 5c, given I've been here since 1c when nobody was actually even posting in these threads at it was less than a $10m market cap...a +300% to +390% return isn't something to take lightly and it will take significantly more work for TMG to go from 4.5c to 18c/22c to equate to the similar returns of 300-390%....not impossible, needs the land access and then mining and all that to kick off and even then it will be diluted more as it goes so that 18c/22c level reduces as the market cap would be higher at those stages.
Just sharing my thoughts and analysis, not bearish just adjusting my risk and not being overly greedy given the returns I've had already and I'll certainly still be trading the swings and trends of TMG, just not holding the significantly large, longer term holdings now, but that might change in the future depending on how the company comes along and if they can de-risk some things, if this manipulation wasn't so much perhaps I'd have kept holding the longer term holdings but it's not worth the personal frustration anymore and in a conversation recently someone pointed out to me "mate you've made over 300% return why are you complaining and stressing out".
If it forms that triple bottom I'll definitely look to add back a lot more, key word 'if' for all those that are probably going to be triggered by this post with comments like;
"trying to get in lower after making huge profits"
"antimony prices keep going up"
"once this news drops it will run"
"once the manipulation stops it will run"
"charts are useless"
"tea leaves"
Who knows, tomorrow the manipulators might open this up at 5c like they did this morning at 4.8c after a 4.6c close or they might repeat like a month ago when it was hititng 5.7c and then they just pulled orders and let it open at 5.4c the next day and continue to collapse into the 4c level.
At this point too many red flags starting to pile up for my liking; the resource is there across the projects but management need to sort things out and start delivering.
(20min delay)