On the last 2 days of last week, the trading volume for TMT on ASX was more than 1 million on both days (back to back). This is actually quite a rare event for TMT. The last time it happened was 10/11 Sept 2020 when the SP jumped about +46% over 2 days, before that you have to go back to 20/21 May 2020 when it jumped about +35%. Over last Thursday/Friday the SP jumped approx +33%. It really feels like something is up. It's possible that on Monday we see another million trades for TMT, and the SP will go even higher. It certainly looks bullish at the moment with the buy/sell volume ratio sitting at 4.6x over the weekend. I don't recall seeing it that high in recent months. The buy/sell ratio of the neighbours right now is ~3.8x, so high too.
All IMHO, DYOR
TMT Price at posting:
42.0¢ Sentiment: Buy Disclosure: Held
