Well, it's not just this stock that's battered. Almost, if not all of the PSE's. But sure enough, this came not without a warning. When this broke down from a double top formation early this year (see earlier post), I plotted the target price to be below P1. At that point it's probably hard to believe. But if you follow your technicals, this shouldn't come as a surprise. Today, MEG closed at P0.76, even below the target price and could possibly go down further.Friday, October 24, 2008
Mega No More
Well, it's not just this stock that's battered. Almost, if not all of the PSE's. But sure enough, this came not without a warning. When this broke down from a double top formation early this year (see earlier post), I plotted the target price to be below P1. At that point it's probably hard to believe. But if you follow your technicals, this shouldn't come as a surprise. Today, MEG closed at P0.76, even below the target price and could possibly go down further.
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