I'll wear a dress and you can call me annie4. Seriously ask yourself whether you would buy MTX with its current chart pattern??. I don't see a bullish pattern here at all, holding this share is high risk because it has a bias to down based on the chart not the justification talk of the traders that went long too late, a close below 325 will likely lead to a test of the 250 support. Its all in the chart, i'll reenter a long position above 380 not now.
Agreed, if you bought around 1-4 june and held till 11/12 June and sold would have traded right (bought 240/250 and sold 350/380). Since 12 june the trend has been SELL, SELL, SELL. Nothing says buy right now.
I am an active trader and will hold as long as a chart remains bullish or bearish but IMO mtx was a sell when it tested 380 and failed to break through i.e double top. Now I have no idea but it looks to be forming a double top formation(bearish). I will get interested again at 380ish as i can't short the share on this platform. I can't and don't even try to see a week in the future.
Metorex peaked on 11th 12th June at R3.90 and R3.95 this co-incided with copper's peak on 12th June at 2.40 US $ /lb subsequentially copper fell to +- 2.17 US $ / lb where it is now (/www.infomine.com/Investment/HistoricalCharts/ShowCharts.asp?c=copper). So do not fear Mtx is driven by copper, but remember Mtx has some hedging...details??? So when copper moves well above production costs this one will fly. Dilution of newer shares will impose a lower ceiling than previously though. Hang in there!
hey forget about crystal balls and hope. go and do some research about the company,visit their web site and read what they actually do.They arent only in to copper,here is something. ("The Metorex Group has evolved by assembling a portfolio of profitable mining companies with a well-balanced commodity mix and good growth prospects. The Group has a record of sustained profitability, despite the cyclical nature of commodity prices. Our current mining activities are in antimony, cobalt, copper, gold, fluorspar, platinum and zinc")good luck all.
am still here dont know where me mate eddie has disapeared 2. metorex is still going to go up. read the sens news. phone the boss. unlike some companies he actually owns shares in metorex and he does actually speak to the shareholderson the phone.
Not great Rich!I'm more on the sidelines at the moment.I'm short on AGL right now which is why it's surging higher.I don't understand... it moved higher cause of the extrata deal that might not happen.If it doesn't happen will the price go down or will everyone just have forgotten about the 15% move.