General discussion (MEI), page-5449

Uhmm, is 10 the new 20?.
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Yes MEI stayed steady at 10c from last week. Volumes moderate. No clear signal on volume.
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So what is happening? The play this week, looked similar to play around 25, around 20, around 18 etc. No change. Only the level has changed. Its now playing at 10.
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Last week I wrote that to be something different over here, MEI has to reached 12c. It couldn't cross 10.5 the whole week. So a work cut out. Only solace, it held 10 even though reaching 9.2 and not making a new 52 week low below 8.8.
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I think, and I could be wrong, unless REE macro changes considerably, MEI may be stuck here. I can't see an announcement which can suddenly give 50% rise. But it can happen. But it can also happen that stock price drops considerably. So at ough time I feel. I hope I am wrong for the holders. I still believe there is a chance we may go lower before higher, unless most REE/Li stocks also start tracking higher. It can happen, but odds not great. But some change seem to be happening.
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So what may happen next week? It goes without saying that 10 needs to hold. For anything positive, it has to reach 12. If it doesn't happen, some more pain before gains. Where is the low? Well, after watching Li stocks for last 2 years and many dropping over 90%, its best not to assume anything. Best to play price action. I wish holders well. Enjoy your weekend and all the best.