Will 12 be the low of this phase?Yes, from a weekly perspective,...

Will 12 be the low of this phase?

Yes, from a weekly perspective, it was flat on 14.5. Volume low, no indication of a strong direction.
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So will 12 become a low of this phase? Last few days, a good indication. Has been moderately playing strong, in the sense, not getting below 13.5. So just on that pattern, it looks good. But the other side, it has not been able to reach 15 since it lost 15. So some who had thought that its just one big drop and we come back, there may be more to it.

So what is happening? Macro very weak, so not helping the cause. last announcement, not very positive, or at least market thought so. Hence the work is cut out. Either macro or some announcement. But the price since last May I have been following is controlled by big players - we don't know what they have in mind. So we wait. But there is no denying that the aura that ME1 had when it rose from 2c to 31c, there is now some doubt around it. Most punters who made gains were from that era of 2c. Last one year every new buyer has been a loser. Its not specific to ME1, but just shows ME1 cannot escape macro. So the work is cut-out now, unless macro changes. But if macro changes, lot of battered Li stocks could make most gains, so ME1 not in an enviable position, yet, that could change with announcement.
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Personally I have not yet bought. Waiting for confirmation of reversal.

So what may happen next week? If there is any downside, 13.5 should hold, worst 12. For upside, 15 break is required, a hold above that. Any news could decide price. Lets hope it soon crosses 15. All the best.