MEG (Megaworld Corporation)

[genkumag]

Hello Peeps!

Below is a straight forward application of multiple moving averages on a V-shaped trend change.

The downtrend price reversal of MEG was confirmed by the break in trendline after the price moved up from point A. I think we're at the cusp of a very strong upward move in price, and that what we are now seeing is a short term consolidation.

I'm looking to confirm this breakout at around point B, or 1.38++ and will only enter the trade above 1.36.

Initial target price set at 1.70, Stop at 1.28.

For the more aggressive trader, I reckon a price entry between 1.24 and 1.26 is okay, with a stop loss set at 1.20 or the 32-day MA.

As usual, would appreciate thoughts from anyone.

Thank you for your time.

[kropotkin15]

Seems to have formed a higher high and lower low already so, I guess I am the more aggressive trader because I think that half your budget should already be in and then maybe you can just add to it upon breakout. That way, you'll end up buying more shares at the lower price than at the breakout price. I think at the vicinity of 1.26 downside risk is already minimal anyway.

Good luck.

[Flora]

@genkumag. Please provide updates. Thanks.

[genkumag]

@genkumag. Please provide updates. Thanks.

Flora - Meg still consolidating at this point; no change on the buy recommendation @ 1.36 up. Given recent price action tho, It seems that traders and investors are in agreement that MEG is cheap between 1.24 and 1.28, so I reckon entering here would be relatively okay, providing you set proper stops below 1.24.

I am expecting prices to move up, hopefully beginning next week. Will update chart as soon as clearer buy signal comes up.

Regards,

Genkumag

[Flora]

Thanks.

[mulan]

Hello would appreciate any updates on MEG.
Thanks.

[harley]

^ yeahbah has a sell at current price due to bearish bat. I think that is still valid.
My call is to hold as long as it keeps on making higher lows. my conservative target is 1.48. I am also experimenting on trading the moving averages so I will try to ride the trend

[mulan]

Thanks Sir Harley,
appreciate your sharing

[yeahbah]

Tapos na yung bat nung tumama ang price sa B point

[harley]

oh ok! so ano na tingin mo dito boss?