I've posted two charts here from today that may shed some light onto how and why it is so dangerous to enter on or close to announcement days. It appears you may have waited after the announcement day to buy but if you look at the day chart and see how ENORMOUS that volume is on an up bar - it is painted red on my charts I suppose to highlight the potential of a blood nose one might get if entering on it or near it, the bigger it is the MORE time we have too allow for this potential weakness to disappear before even considering a buy.
This second chart is a 2hour timeframe which lets us pan down inside the day and see where and when this potential weakness is - ANYTHING PAINTED RED on BIG volume i.e. the volume bars is and should be very carefully watching if currently in a trade or if considering to enter one EXTREME caution is warranted. I realise it is too late for your current MEO holdings but you might be able to take something from them. lol
MEO Price at posting:
37.5¢ Sentiment: None Disclosure: Held
