There were no recent company announcements to indicate why, so we look to analysis techniques for explanations.
OBV On-Balance Volume analysis keeps a running total of daily up-price volumes (+) and down-price volumes (-). In a (better) mod of this, the volumes added or subtracted are proportional to the daily percentage share price changes.
When Mod OBV is rising it is supposed to mean that "well-informed" investors are accumulating the stock and then the plebs will join in and the SP will go up.
MET’s Mod OBV rose over Dec 2011 and Jan 2012, which was supposed to indicate the price would rise. It did – in Feb 2012.
During Feb the Mod OBV rose even more steeply, which should indicate a further price rise this month.
Hope this indicator has predicted correctly again.
Alternatively, some good drill assays would be very welcome.
MET Price at posting:
46.0¢ Sentiment: Hold Disclosure: Held
