The Responsible Trader

STOCK CHARTS AND ANALYSIS – MEG

 

In accordance with our Independence Day commitment, following is our Technical Analysis of  MEG (MEGAWORLD CORPORATION)  as of  Oct. 22,  2015.

 

This is the third of  our THREE for FREE for this week. (DNL – Non-Index Stock, NIKL – Non-Index Stock and this one MEG – Index Stock)

 

TA-TRT Way – Straight from the Chart

 

 

POSITIVE

1.   Bounce after hitting 52-week Low. MEG bounced after hitting its 52-week Low. Since then, it has gone to form higher low bases and almost took out P4.85  (50% Fibo).

2.   Price action above 15 EMA and 20 SMA – Bullish – Short Term.  Price action above 15 EMA and 20 SMA shows that the stock is Bullish on the Short Term. A Golden Cross between these two also confirms the change in trend direction.

3.   Price action above 50 SMA – Bullish – Medium Term. The stock’s recent price action above 50 SMA shows that it is Bullish on the Medium Term.

 

NEGATIVE

1.   Price action below 200 SMA – Bearish Long Term. MEG’s price action below 200 SMA shows that the stock is Bearish on the Long Term and still remains in Bear Territory.

 

NOTES:

1.   Positive points are things that could work in your favor. Negative points are things that you have to watch out for.

2.   On the opposite side of Pattern Targets are Pattern Failures. In case you decide to take this trade, always remember to set a stop loss based on your established risk tolerance level.

3.   September is a very significant month for us. It was at the same time this year that we introduced Responsible Trading to mainstream social media.  Starting September 1, 2015, since you are already familiar with our caption “TA – The Responsible Trader’s Way – No Hyping, No Bashing, Just Plain Cold Facts” we are changing this to TA – TRT Way – Straight from the Chart.
The Chart and Analysis is presented for educational purposes only and should NEVER BE TAKEN as a RECOMMENDATION to BUY, HOLD, or SELL.
Please trade with CAUTION, please trade with CARE. As always, IT’S YOUR TAKE, IT’S YOUR CALL. IT’S YOUR MONEY AFTER ALL.

 

Good luck on all your trades.