Metanor technicals

http://stockcharts.com/def/servlet/SC.pnf?chart=MTO.V,PLAADANRBO[PA][D][F1!3!1.0!!2!20]&pref=Ghttp://stockcharts.com/h-sc/ui?s=MTO.V&p=D&b=5&g=0&id=p84557541922Metanor - MTO.V had 2 weeks of strong gains with heavy volume after coming off a bottom of .21. The downward trendline was broken at .25 and it judging by the volume a new uptrend may have started for the stock. On the weekly chart, .30 is major support and can be used as a stop loss. Resistance is .48

WEEKLY CHART

The daily chart tells a slightly different story. The stock is approaching overbought levels at this price, after a nice rise from the bottom. .33 might be worth an entry here, and .29 - .30 is support.

DAILY CHART

The P&F chart has triggered a buy signal at .28, with a price target of .66. (using average true range setting)
Major resistance is clearly indicated on the P&F at .48. The target of .66 depends on news and how well the company executes production. The target of .66 is only a guide, and peaks can be lower, or as you know much higher.

On August 26, a report by Market Equities Research Group was released.

MARKET EQUITIES RESEARCH GROUP REPORT

The have a target of $1.35 on the stock, although this is preliminary and only as the company nears production. Bulk sampling is expected to occur in Q4 of 2011, and the mill should be operating at 2/3 capacity by Q3 of 2012. As you can see, the target they have provided could be a year or two away, so trade at your own discretion using R as selling points, and S for your buys.
This could be a good one to swing trade.

Visit the company website for more information.

METANOR RESOURCES WEBSITE