MEO 0.00% 0.0¢ meo australia limited

a broad overview on sp outlook

  1. 350 Posts.
    hmmmm,
    although many of u guys sound very committed, technicals seem to be worsening by the day for this stock.
    i admit technical wont indicate anything for the long term performance of a stock, but for the mean it while seems like there's going to be further drops.

    - the triple 10 days EMA/SMA both indicating down trend,
    - today (especially) and 16/11/09 had high volume on sell down day,
    - MACD falling constantly,
    - ADX also falling lower and lower
    - RSI dropped below 50 mark,
    - todays price droped below support of 0.505 ~ 0.51
    - stocastic forming lower lows and lower highs....

    just pointing out for those that might be thinking of entering at this stage.

    *** NOTE: technicals do not indicate long-term out look.

    however, it certainly doesn't seem like the bottom of the drop.

    good luck everyone
 
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