Looking at the trades it looks like a small pump and dumb to me, an increase of 20% and then back down and now back up again... watch this space, I think it will be down to around 7c again in the next day or two (hopefully not).
I think short term it will drift between 7-9c and then IF there are is know 'new' news then I think it will drop to around 5.5cents for a while and drift between 5-7.2 cents... possibly good buying oppertunities, I think this will get the attention of day traders every now and then for another pump and dump... and then one day... hopefully... we will get some new news that makes the SP go north again.
The market is so shaky at the moment and so many people have been burnt on this stock - I was nearly burnt big time but fortunately for one reason or another didn't buy-in when the SP was peaking. If the next well is a duster... who knows where the SP will end-up, though I think there would be an amazing buying oppertunity - that's what I am waiting for, that been said here's hoping this company gets some great news and makes all the current holders a mint! :)
Ele.
MEO Price at posting:
8.9¢ Sentiment: Sell Disclosure: Not Held
