On the chart MEO is currently trending down.
Today’s volume was in line with the volume on Sep. 25th (sp down 10%) and 26th (sp down 9.6%). That was when MEO made the first announcement regarding the timeline slipping.
Profit taking by those who participated in the 45c/share placement deal is likely to influence the short-term sp again tomorrow, Thursday.
Market makers may try to run the stop-losses to get the share price further down. Increased volume and sp impact can be expected.
MEO will need to feed the market with a string of positive announcement to make a change.
FWIW there appear to be some support @~45c.
Familiar number that one!
Could that explain something ?
All IMHO.
As always own DD is required to stay afloat <:)
The resident MEO Cheer-Squad will not like the post, but this is the way I see it right now. Informed opinions are welcome.
On the chart MEO is currently trending down.Today’s volume was...
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