Totters would appreciate some feedback on the forks I've drawn on the MEO chart below. SP seems to have drifted down with the blue fork although while it fits, I'm not sure I have the alignment correct. An interesting candle formed today as the stock came out of suspension and it appears the market wasn't sure what to make of the news. What is your experience with these piercing moves as seen on the blue fork. I was expecting price to follow the brown fork if news was favourable but now it looks like the blue/orange is still in play with the blue being a strong downtrend.
Any thoughts appreciated as I'm using this stock as trading101 at the moment.
Cheers
Rhodes
weekend charting march 18-20, page-154
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