Toll before we have a confirmed uptrend we want to put in a higher low above 11.5cents. A bit of consolidation around 13-14 cents to soak up the last few loose hands will do this stock the world of good. There are a couple of sizeable orders lingering around further up the market depth, but they will be chewed through in good time.
Anyone who grabbed some at 11.5 last week is already up the best part of 20%. For some, they will be happy to call it a day with that gain and these are probably the sellers who are putting a bit of a lid on things at the moment. But it is in this process that we are building support for the next leg up, and that can only be a good thing.
As for news, well I would like to hear a bit more on this MTT thing over the next month. If we can possibly get into production within the next 8-12 months then that would be fantastic. Not sure how realistic that goal is, but MKO's bigger brother in PXS is aiming to do a similar thing as we speak.
MKO Price at posting:
13.5¢ Sentiment: None Disclosure: Held
