valuation - heron or gurame worth more?, page-28

Dr D thanks for the feedback and your informative posts related to MEO.

Having a look at the charts since the SPP was announced 22.5c has been tested six times and failed to break through. Short of any negative news it would appear the overhang from those exiting their shares acquired in the SPP has finished and people are now holding pending further announcements. Market depth has improved significantly since Thursday with a total of 7.6million on the buy side and only 3.4 million on the sell- it just keeps getting better. Close is above the twenty day moving average and the kick up in volume and closing price at the high for Friday would indicate the bulls are now in control and the bears have gone into hibernation for now.

Its a pity that we will have an announcement Monday which
could affect the price in either direction. Without an announcement I would expect to see a gap up in the price on open and a continuance of price action indicted prior to the SPP where it was set to break the 25c resistance.

With regards to where the share price will be in 12 months unless some has a crystal ball a company like MEO is only as good as its last drill, (Hardmans is a good example of this) I would suggest enjoy the moment and what comes your way in the coming months but always have an exit strategy in place in case things don't go according to plan. Looking forward to the next few weeks.