From a charting perspective, it all looks positive for MEO. The weekly and monthly charts are all ticking up. Bollinger bands on the monthly chart are very tight with MACD in buy territory, a good sign of a breakout. The monthly chart is the real indicator of a big move. All three time frames, daily, weekly and monthly are in agreement with each other, the potential for a strong run up is good.
Also the buyers to sellers ratio today improved through the day, in favour of the bulls.
MEO Price at posting:
28.5¢ Sentiment: Hold Disclosure: Held
