Saturday, May 30, 2009

PHILIPPINE STOCKS: MEG (MEGAWORLD CORPORATION) 5-30-2009


It's been quite a good run for MEG since March. If you bought the stock back then in the 40+ centavo area, its value is more than doubled now. The stock still has a big room for appreciation. A mini-triangle or the so-called flag (indicated by the red diagonal lines) is currently forming and bound to breakout anytime if the price surges above the resistance line (topmost red diagonal line). If everything goes well, I set my target price at 1.16.  Click image to enlarge hommies!

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