market didn't like the cr, page-20

Unfortunately this is exactly the same story as late last year when the stock was ramped up to 80c on the back of the farm in announcement.....A CR was announced and MEO tanked..


same story different players..

If MEO goes under today's low it could go a lot lower. It could also go sideways or bounce around a bit.


Support and resistance levels are always tested. Sometimes if you close out a position , as painful as it may be, if you sit back and watch you may be able to buy your stock back cheaper..

When a stock gaps down after a rally likee MEO did today they rarely reverse....they usually mill around trying to find a base then continue on in the direction of the gap....

At the risk of being accused a downramper I have posted two charts below...I am a realist....and it cost me a lot of money to become one....