The chart I was looking at was just a basic daily chart. As I mentioned in previous posts, the double top to me was a bearish signal indicating to me that this stock was heading lower, however being a very small double top meant that the move down could be only a small one or only last a few days as you can see has quite clearly occurred in the previous 3 days. This does not mean you are out of the woods just yet, but that double top may well have run its course allready. Depending on what happens on overnight markets, you may see buyers push the stock up at times during the day as they may think that its oversold and try to pick the bottom. A move that's allways fraught with danger. Anyways it will be interesting to see how long this sell-off will last before you get an "up" day.
MEU Price at posting:
8.5¢ Sentiment: None Disclosure: Not Held
