Hmmm not so sure about that Trev. The last 3 days have been interesting, we had our high volume wide spread upbar finishing off the top 3 days ago and as predicted it caused the price to fall yesterday on reasonable volume. Today, yes the price reversed and went up a bit but it went up on less volume and finished where it started. This actually shows there is no demand. I would expect the stock to break lower from here, much as I hate to say it.
The weekly however is still not looking too bad and we have made higher highs and lows on slightly increased volume. This week though we finished just shy of the middle of the bar meaning potential weakness in the form of selling has been quite prevalent. Again a pullback on the weekly too could be on the cards. Hopefully I am wrong.
Cheers!
MEO Price at posting:
30.0¢ Sentiment: Hold Disclosure: Held
