Will have a look at the chart tonight on my charting program when i get home but agree 23 cents is the important barrier. Once this is cleanly broken then next short term target looks to be around 26/28 cents, but certainly if volume picks up this could be easily broken (as shown on around 5 December when price shot up due to lack of sellers). Once the rights issue sellers have stopped selling this would certainly weaken the sell side and we could see a rapid increase in price.
As you state lots of interesting news to come and thanks for your thoughts.
Volume today of 1m shares was good, but think this would have to increase to really confirm a break out above 23 cents.
donncham
MFE Price at posting:
23.0¢ Sentiment: LT Buy Disclosure: Held
