True Hooba but this is a stock that is quite volatile and one where you can pick up a few shares when someone just wants out and dumps them, only for the stock to recover very quickly. Its how I have accumulated mine (at a lot lower than these levels) and I am holding, there are clear signals as to where the sellers are coming from and how much stock they have, for example, stock recently released from escrow, stock placed etc. In this instance, we know that the recent placement of stock was done so privately to sophisticated and professional investors. Typically, these would have a professional relationship with the board and the board will do their best to ensure that the stock is not placed with individuals who turn around and dump the stock. I am confident that this board has enough kudos to be able to do that so I dont believe we will see much if any of this stock come out.
Ergo, I do think that the deep buying support reflects true support as we have seen recent sales in this stock absorbed and the SP recover.
Good luck and have fun!
MTY Price at posting:
3.0¢ Sentiment: Buy Disclosure: Held
