The pullback in the world share markets could be good for MEO's share price.
Firstly, it probably means we will get a Christmas rally. Share markets had been rising non-stop for the last 2 months. I was doubtful that there was anything let in them for a rally. Now MEO could be announcing a gas discovery right in the middle of a Chistmas rally.
Secondly, the day traders have probably been too busy chasing other stocks to even notice MEO. With a market pullback those stocks will be dropping. We might get them switching into MEO.
MEO Price at posting:
55.0¢ Sentiment: Buy Disclosure: Held
