Potential to be Rangebound Although it is very difficult to predict, absent any major catalysts, we may be rangebound for a few more weeks until we see more volume.
On the way down, TMM Traded the following:
- 19M shares from .72 to .40
- 97M shares from .40 to .32
- 48M shares from .32 to the bottom
On the way up, TMM traded the following so far:
- 34M shares from .11 to .33
If those buying are accumulating a long position, we can more easily slice through resistence. If we have traders, I would suggest it will be more difficult to move up quickly with a sustained price.
The caveat being catalysts... Gold price surge or drop, Positive Q1 results (per TMM slides, $35M EBITDA at $1250 gold for FY16), Financing or Feasibility study results (due in H1, I believe).
It just may well be a tug of war for a bit... but a catalyst will change things rapidly.
B