Hammer on MEG. Will this nail down the bears?

MEG is now trading below 3.00 per share as it fell by 2.34% at the closing. Current candlestick is a Hammer which is reversal pattern. This could mean a technical rebound for MEG but we should wait for a confirmation first because this is not a strong reversal pattern.

Caveat!

3 Responses to Hammer on MEG. Will this nail down the bears?

  1. […] we should wait for a confirmation first because this is not a strong reversal pattern. Caveat! Hammer on MEG. Will this nail down the bears? Reply With […]

  2. […] Hammer on MEG that we saw last August 28 brought the price of MEG up to the next fibonacci retracement level but […]

  3. […] Hammer on MEG that we saw last August 28 brought the price of MEG up to the next fibonacci retracement level but […]

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