Should note that this is was a relatively small move, price target was 29+(75% of (29-21)) = 35c. which it duly reached and this is possibly now acting as resistance with traders exiting. I say relatively small, though 20% is a healthy gain for a couple of days of trading if you were watching. More important is that it may signal a reversal of the down trend. Half yearly soon, I am keen to see how they have fared, and what their outlook for the next half is. Heres hoping for a breakaway gap to burn a few shorters lol, am very curious about the rates they negotiated with Conoco. Best Wishes to those that are still holding, i know that some of you are sitting on rather large paper losses at the moment, so must have balls of steel!
MRM Price at posting:
34.3¢ Sentiment: None Disclosure: Not Held