Another week. Another play without making a new 52 week high. For a long time, I think a very long time, I wrote that MEI gets choked when it reaches 500m market cap. Why? Because it comes to attention of a few, and they feel. its not there yet.
So how was this week? Nothing to report on. Last week it was 24, this week 23.5. Previously I had said the reason it doesn't get above 28 is because its market cap gets above 500m. Now, 25.5 gets it to to 500m cap. Will that mean it will now not get above 25.5? Very possible, and not to be ruled out.
But one thing has been good. It has held its level around early 20s. Even if no gain in 6 months, possibly no loss in 6 months. But how long can this continue? Not sure. I have been waiting for 6 months. I have patience. I can wait. All the best
MEI Price at posting:
23.5¢ Sentiment: Hold Disclosure: Not Held
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