MTM Chart, page-2292

The spiralling down continues?
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From a weekly perspective, MTM had another bad week, a drop from 15.5 to 14. On news, it did reach 17.5 on open, but that was it from a high perspective. Made a new low of this phase at 14, and finished at that. Not a good look.
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So what is happening? We had a good news. An MOU. It looks like punters want more confirmation. There was no bad news though. So any drop has to be in that perspective.
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So have we made another mini bottom? The play since reaching 30.5, has been 30.5 to 24.5, then 30 to 22, then 27.5 to 18.5, then 26.5 to 17, then 23.5 to 14.5. This week play from 17.5 to 14 - but that play is continuing. At this I am not sure if 14 is bottom. Next week will tell.
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Personally I have been trying to play the pattern. Another play for me this week, its not unusual for stocks open a bit strongly on news and then give it away. But I am still holding. Not increasing my holding, but trading to reduce my average. Last week my average was 18.5 as I wrote. Have got it down to 17.5. I don't play a lot of stocks for medium/long term, so taking a punt here, but there is no guarantee that it will succeed. Am down around 20% for now.
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So what may happen next week? General markets has not helped the cause. Risk based assets, worst performance in over 2 years, across the board. Except Gold, very few resource/commodity/risk assets have done well. Whether its Uranium, Lithium, REE, Iron, Nickel, etc. but things could change. when it does, the reverse may be dramatic as well. MTM is ticking the right boxes. I still feel, we are not far away when the penny will drop. I am holding so maybe biased, so please dyor. But odds of something good is still higher than it going kaput. Will that happen? Lets hope so. All the best.