The best bit is 'MEO was trading at 56c. Lets hope the was is prophetic when we look at a rise tomorrow. I've still got a buy at 54.5 though - just in case.
If there is a farm in partner I reckon at least a 50% rise may be more likely. The way this share goes though, the day traders will probably jump on board (as they have in the past)which will over-inflate to over 100% or more. That's when you will need to be watching as it will pull back quickly to around the dollar mark. Then the chartists will have fun with their flags until it settles again.
After that it will be waiting for Songa to strike gas (again).
If there is a take over - which is less likely IMO - then who knows what the offer will be. Then it will depend on the offer to set the price.
That's why this stock is so exciting at the moment.
MEO Price at posting:
56.0¢ Sentiment: LT Buy Disclosure: Held
