Further consolidation?.Yes MTM lost 1c to finish at 17c. Our...

Further consolidation?
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Yes MTM lost 1c to finish at 17c. Our volume was still low, just over 2.6m shares traded. We opened at 17.5, touched high of 16.5 and finished at 17. So more volume and wider trading range today - but played with weakness. Not sure how chartists will view this, but to me it looked like slight indecision. But after having a big rise, even to hold all the gains was quite positive I felt.
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So after finishing at 18c for couple of days we have lost the ground and now below 17.5. Yesterday I had written that it looked to me a slight in decision, so was not much surprised by today's action - although had hoped for a finish at 17.5+. Also I had mentioned yesterday that many punters must be sitting with gains and some may try to capitalise on it. So I feel that we saw that today as well.
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So are we in further consolidation or move in one direction? Its possible that we could be sideways as it looks like there may be supply. Although its not unusual to see this. Couple of weeks back most of the trading was happening around 10/11. Then for another week around 13. Then for last week or so around 16/18. So we have not been here much long, many who are on gains may want to cash in, those not sure would also like to be on the side. But low volumes are indicating that shares are moving into punters who are happy to ride this wave and see if something big can happen.
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From a weekly perspective, last week we finished at 15.5 - so finishing at 17 is still good - in front by around 10%.
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So what will happen next week? Couple of days back I had written - "If we slip, it would be good to hold 15.5 - but now I feel 17 itself may provide some". Today's trading was indicative of that and bulk of trading happened on 17. So next week it would be good to hold 17. If we go up, a play in the 20s would be good. Will that happen? Lets hope so. All the best.