Just some thoughts for discussion:
- There are many reasons to buy MBE right now and very few reasons to sell.
- When the buying dries up (as it has), it seems to be in order to test the sellers, of which there have been relatively few, thus the low volume pull-back.
- The last couple of days have seen buyers slowly entering back into the market without causing another stampede.
- There's virtually no supply. Buyers will have to pay higher prices.
I have been bullish on the fundamentals so perhaps I am biased, but that's how I see the technicals lining up at the moment. Awaiting confirmation tomorrow or early next week IMO and then it's up way past 40c.
MBE Price at posting:
22.5¢ Sentiment: Buy Disclosure: Held
