In early May this year MEO broke through the 0.30 cent support &...

In early May this year MEO broke through the 0.30 cent support & hit a low of 0.295 on 07/05/2010.

Again in May bottomed out with a low of 0.245 on 21/05/2010.
Regained & traded sideways for about a month with a trading range about + or - around 0.30 cents.

With the weight of tax loss selling retested that low, with a low of 0.240 on 01/07/2010.

Now , I don't think we need to test that low again. You can if you like but I just don't think it is necessary.

So , my vote on MEO's SP this month is a similar movement to this time last year, which would put the SP at approx. 0.465cents by 06/08/2010.

The only difference being that by the end of September , instead of tracking back down to where we are now , it is to continue the upward trend to new heights where MEO has never been before , establish a new trading range where it will travel sideways till the next successful venture moves MEO to new previously uncharted heights.
This may not happen , but then again it might.

TTR.

PS. I wonder if 0.265 will be the new ascending low today ??