The inverted hammer on last friday's close can potentially be a reversal signal at the bottom of downtrends, and this was confirmed today, and bounce from $2.4 support has been confirmed. Just 1 pip off all time closing highs. I saw an iceberg order being placed at 2.4, then moved up to 2.5, 2.6, 2.7 and 2.8, so institutional accumulation is still happening.
VRT reports tomorrow, which should have a knock on effect sector wide, if cycle numbers mean revert and VRT meets its NPAT guidance, MVF should easily meet its 25-30% growth target. The main thing the market is looking for is FY2017 guidance, if MVF can issue a ~20% growth target, then the current mcap is more than easily justified.
MVF chart, page-3
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 (20min delay)
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Last
$1.39 |
Change
0.010(0.72%) |
Mkt cap ! $541.5M | |||
| Open | High | Low | Value | Volume |
| $1.39 | $1.39 | $1.38 | $348.8K | 251.5K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 2306 | $1.39 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.39 | 2780 | 2 |
View Market Depth
| Last trade - 16.10pm 19/08/2024 (20 minute delay) ? |
| MVF (ASX) Chart |