• Technical Overview on MEG

    Technical Overview on MEG

    Here’s a quick technical overview on Megaworld Corporation (MEG). MEG had been trading within a descending channel since September 2010 before finally breaking loose early this year. After escaping above the critical Php1.80 resistance last March, MEG has steadily moved upwards. It eventually reached its minimum upside target at just above Php2.40 and by the looks of it, MEG may likely continue moving higher. Its next stop may likely be its previous high at Php2.80 as long as it continues to track its present uptrend line.

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