MEG: On schedule to hit lower slope?

There have been few attempts for MEG to break from the resistance (upper slope) but all reversal patterns have failed. As of this time MEG has been falling and may soon hit the support line (lower slope) which is quite deep.

Like any stocks in our market, Ichimoku is telling us that MEG is in a downtrend in short to midterm. Any spike is an opportunity to lighten or day trade.

Caveat!

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felix

A computer engineer by profession and loves to develop online systems/websites. A self-taught stock trader who loves to share his knowledge and enjoys learning, expanding knowledge and staying well-informed. Most often he uses candlesticks, Fibonacci Retracement levels, Ichimoku system on his technical analysis but loves to hear some rumors as well.

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