Our system’s recommendation today is to BUY. The pattern finally received a confirmation because the prices crossed above the confirmation level which was at 22.25, and our valid average buying price stands now at 24.54. The previous SELL signal was issued on 19/01/2017, 5 days ago, when the stock price was 28.48. Since then MATD.L has fallen by -13.82%.
Let’s jump on our white horses and go for a bullish ride. The bullish pattern that was previously identified is finally confirmed and a BUY signal is generated. The market is telling you about a new profit. Do not miss this bullish opportunity.
Great to see MATD's seemingly relentless rise, moving up almost 300 per cent in a brief period. And all achieved on virtually no hard news.
Mid-long term the drill bit will talk, deals will be done and with luck this could be an enormous success.
Short-term, if you believe in the opportunity, it's about trying to grab as many shares for your investment budget as possible.
My gut feeling is that we could move towards 30p and then see a short term reversal as profits are taken and a collective pause sets in while people wait for hard news to digest and help shape their next move.
We saw something similar recently with a gas explorer (can't name them, as I would face a banning order) where the price shot up from 40p to touch 100p in a matter of weeks, before a quick fall back to 85p and then a more gradual settling back in the low 70s. Point is the SP became 'frothy', rising on excitement and an emotionally charged asset grab.
We could see something similar here. I'd say 15-20p is a good buying range at the moment, should MATD fall back. If I'm wrong, so be it. Just trying to add a view for those pondering their trading strategy. I'm a committed LTH now but I know all too well I can buy more shares at sub 20p than nearer 30p.
All part of the fun of trying to come up with a flexible investment strategy that works.
Solid end to the day...they tried but you can't keep a good share down. Oil price creeping up just shy of $56 ...just need that £5m from shell, then a great farm in partner news to take us to next level 35p+ then it's upwards & onwards from there until the drilling. Good times ahead I feel.
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