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Friday, August 24, 2012

ManhattanRes: A Forgotten Gem?

Manhattan Resources dropped more than 50% to recent price at around 63c from 1.30 one year ago.

its major support is at 63c, it has been consolidated at this level for past five weeks already, it got a bounce this morning to 73.5c, up by 6c(11.39am). There was a substantial 1.5m shares buy order done at 70c early morning. It appears there are plenty of room to upside with target at 90c.

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