Although I have been negative on this stock for quite some time (3 years) based on the Jaya acquisition and this was further exacerbated by fall in oil prices, it seems to me now that the company is in an uptrend. Not because of any fundamental changes - Mermaid will have a shocker second half - in my opinion
Why is it in an uptrend - well my personal view is because the people that control the up and down switches on companies - have elected to take the brakes off for the time being and allow share price to move up
Cannot fight this - I am now a short term holder - with fingers on the button for a sell as soon as the big boys decide to change direction of share
MRM Price at posting:
45.8¢ Sentiment: None Disclosure: Held
