Interesting item for me is the turnover figures - only two big turnover weeks in the last eight months, the first in the first week of January of some 7mil shares when MML said they would miss production guidance for FY17 and the second in the last week of February of some 9mil shares when MML reported a $55mil impairment in their half yearly report - both times the share price got crushed. I can understand the first instance but can never understand when the market dumps on impairment news - that was a classic over-reaction.
There were seven huge turnover weeks between Sep15 to Mar16 and at least another seven weeks of between 5 to 10mil in that period. It shows that turnover has settled down and there are less sellers in the stock these days which I suppose is what happens when the share price trades around its historical low point.
The quarterly report later this month might give buyers the confidence to aggressively bid the stock again.
MML Price at posting:
46.5¢ Sentiment: Hold Disclosure: Held
