(7/1000)
Ascending Triangle for MEG. Not Confirmed yet.
Pros:
1- Bullish Ascending triangle
2- Descending volume during formation
3- PPS above 50MA and 200MA
4- RS above 0 but just a tiny bit
5- R/R ratio above 5
6- 250RSI above 50 but a bit flat
7- 50MA above 200MA
8- 50 MA and 200MA ascending.
9- Golden cross circled in blue
Cons:
1- ATR is descending, less...
Hey Everyone. Over the past few weeks I've been following MEG (Meg Energy) on the TSX and I'm sharing my prediction for a reversal of current price. With a beta of 3.11 MEG is very volatile and over the past few days a few strong patterns have surfaced, obviously the small double bottom (#2) APR 7-APR 8 that proved to be true. Now we see a double top surface (#1 &...
worth a trade at these levels. Valuation is ridiculous at $63 WTI their free cash flow yield is 50%. Could announce buyback program which is what they will probably do as no interest in this sector so need to manufacture higher share price.
