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I'm looking at a MATD candlestick/bar chart going back to 2014, as that's as far as it goes. What it shows me is that in all that time the price action has consistently fallen back to support levels of 2.5p to 3.5p. It's absolutely clear when looking at a monthly or weekly chart. At one stage it shot up to 40p a share in early 2017 without an exploitation licence - Doc83 how do you explain that ? Presumably that was all down to fundamentals ?
There have also been about 10 spikes during that time up to a maximum resistance level of about 10p - it will take a lot to break through those levels.
So what we are seeing right now is completely normal when you look at a long term chart. I wonder how many on here bother to even look at charts. It seems to me that most are completely obsessed with fundamentals, because they believe that it accounts for everything. In fact this is a range bound share which is pretty predictable when you look at a long term chart. I will take at least a third out on the next spike, as based on past performance the price will plunge again soon after the top of the next spike.
This range bound price action, with high volatility at the time of the spikes is perfect for the MMs and the short term traders !
Maybe take a look at MATD in different timeframes on here ;
https://www.barchart.com/stocks/quotes/MATD.LN/interactive-chart
In fact you could draw support and resistance lines on the chart going back to 2014, and you would see how entirely range bound the price action is. You could have traded this share very successfully for many years without even needing to know what the company is involved with. Lol.
Investor33 - there are no fundamentals here. The most important fundamental is what earnings/profits a company makes. MATD doesn't make any money, so it's always been priced as hope value. That's also why it's so range bound... investors are willing bet on a hope but typically won't bet the ranch.
MMs do play games and/or can misunderstand and misprice stocks. But that isn't the case right now. This is simply a company that, for whatever reason, continually fails to deliver and is being repriced accordingly.
Surely the relevance is not what the price per share was when it might have been but surely what the market cap was at that particular time against what it is now. The market cap would reflect the number of shares in issue and makes comparatives like SP far more honest (imo) When i started here a few years back the number of shares was 700m now it is 1.113bn. a jump of about 30% and tbh it may higher before we finish.
All of that does not worry as i know there will be a re rate and the prices we see now will be history.
//All of that does not worry as i know there will be a re rate and the prices we see now will be history.//
PHEW! That's very reassuring. I take it you're not one of the people Zellman refers to as "knowing F.A.?
Iibiza - 30% dilution still doesn't account for sudden surges from about 3p to 7or 8p and then just as dramatic sudden falls to the usual support levels. The default position is around support levels until there is an RNS or some type of news - in which case the price goes crazy for a short time, before dropping back to the support levels.
Doc83 - that manipulation when the Velo duster news came out was classic manipulation. A huge spike down to hit all the stops at a previous support level, and then a recovery within minutes. MATD was valued at £2 a share back in April 2011 without any exploitation licence. It wasn't hope that was driving the price back then so much as FOMO being stirred up deliberately. All the numerous spikes since 2011 with falls back to normal support levels have just been opportunities for those who accumulated at the support levels. FOMO and it's opposite - fear of losses can easily be stoked up by playing around with the price action. It's happening right now in fact - look at all the negativity on here....
I meant ' Ibiza28. ' Sorry for the typo.
I agree with you about the MM manipulation they have been pulling the strings here for years and your point about spikes is well made. I was just referring to overall share prices mean little out of context to the number of shares and over all value.
Investor33: "Doc83 - that manipulation when the Velo duster news came out was classic manipulation. A huge spike down to hit all the stops at a previous support level, and then a recovery within minutes. MATD was valued at £2 a share back in April 2011 without any exploitation licence. It wasn't hope that was driving the price back then so much as FOMO being stirred up deliberately."
Agree with all of that. Hope and FOMO absolutely.
This SP is like a yo-yo. Heads to the 2s when newsflow dries up, usually coinciding with the Mongolian weather moratorium on drilling activity. Then, when there's light on the horizon, when something might be happening, it starts to rise...3, 4, 5, 6p onwards. Each time the rise grows as MATD seemingly gets closer to first oil. 'Will it be this year?' it seems each time. But there's always a fly in the ointment, a delay, some unexpected hurdle, and something happens that hurls the SP back into the 2s again. Usually, again, followed by a protracted period of limited newsflow. A long wait ensues while short term investors jump for lifeboats.
I've held MATD for c.5 years now and seen this happen time and again. Managed to pick up some cheap shares in the 2s along the way. And each time the following year these shares have all at some point ended up being +100%.
So, here's hoping first oil's upon us this time. It'll be the thing saves us from the 2s pattern occurring again and propels the SP upwards for good. I will quietly accumulate again in the 2s, or near enough the low 3s. Perhaps today. Maybe a shorter wait this time too...Heron's already drilled so fingers crossed weather won't stop getting her online. Let's see. DYOR of course.
Hundreds of per cent rally doable here in due course says the one and only feathered one !
I agree : 2.5p to 7.5p is 200% for eg
3p close now..... in low volume small selling might get this readily there .. I stop buying shoe(s) and instead buy some matd.l at 3p, Sir ! .. and I buy more again thereafter too, Sir !!
Buy low ..sell high
You know it makes sense, Rodney
MATD will have oil for 20_30 + years depending on the production and if they will find more oil. There might be a delay a week/ months or so but at the end of the day we get oil out and make money. Lots of it. The delay might be just a process or might be on purpose but can't take too long. Anyone knows if MB is still in Mongolia?
Nearly 2 months since we have SL. Amazing that we have EL and then SL and still need LP!
Ibiza28 - thanks for clarifying.
The reason I bang on all the time about the MMs is because whether we like it or not, they are the big players in MATD right now. If they are buying £500,000 worth of shares in an accumulation phase they can drive the price up against themselves very easily. So they accumulate when the price falls back to the 2 to 3p support levels, which is a process which has been going on since at least 2014. And to really accumulate cheaply, they spike the price down suddenly ( usually on ' bad news ' ) to catch stops around the support levels, and also to shake out panicking weakholders who bought at the top of the last spike ( like Badprophet for example ! )
Right now these are the real movers of MATD - not Mr Smith buying £10,000 worth of shares on a given day. Maybe in the future there may be institutional money comes in, however this is not driving the price action right now. And don't forget, the MMs trade their own accounts as well - so in fact they are the biggest short term traders buying and selling MATD. The smart money so far has followed what they are doing in terms of accumulation and distribution ( the latter happens on the frequent price spikes )
Investor33 - spouting lies you may have picked up from the lies of other posters doesn't do much for your credibility.
@Badprophet - you blame MATD, but actually you should be pointing the finger at yourself for not understanding how the market works. Sounds to me that you fell for a classic FOMO spike - bought at the top of the spike and then got shaken out when the MMs dropped it back to the 2p to 3p support levels. You have been spitting venom at MATD and the LTHs ever since - but you need to blame yourself. Living in a world of schadenfreude hoping that MATD go bust or whatever is not a great way to turn a negative into a positive.
Investor 33 - like Hamm before you you make all kind of wild assumptions about me then present it as fact. Both of you are about as far off beam as it's possible to be. I pity you.
BTW - when have I "blamed MATD"? You must be thinking of master & Manro maybe?
B/p: Pity yourself - you need it (a lot!) more than investor33.
"when have I blamed MATD?"
This is not a court room - do you seriously expect someone to produce evidence? Don't make a (even bigger) fool of yourself!
Most readers on this BB understand how you operate - you've admitted it a couple of times:
1. I am not invested
2. My posts intend to wind up the positive readers on this BB.
3. I couldn't care less if I were to see PM go down the drain.
Need evidence for that too?
What a shame - and a waste of your time.
//2. My posts intend to wind up the positive readers on this BB.//
Seems like it's working a treat then Ojay. All you idiots getting your knickers in a twist trying to figure out where I'm at and coming up with wild inaccurate assumptions. Keep going - I love it!
OR - you could all just filter me of course - a thought?
But then you'd lose one of your whipping boys wouldn't you. LOL
//his is not a court room - do you seriously expect someone to produce evidence? //
I don't expect that because there is NO EVIDENCE that I have BLAMED PM OR MD for anything!
B/p: Into name calling mode (once again) I see eh? I guess that's what's left when you've run out of other arguments.
Some folk here seem to get bitter and show frustration at their own mistakes when getting on or out of this ride,
This is not a top 100 blue chip company and if you have decided to stay on and reap the benefits (otherwise you wouldn't be invested here) be prepared to accept the risks as well. Getting hysterical and just about blaming everything on the company isn't going to achieve anything.
GLA
MB not MD