Megaworld Corporation (MEG) has finally revisited its all-time adjusted high of around Php5.00. A long term hurdle at this zone, though, may keep its rise in check for the mean time. In other words, profit taking actions at its present mark may likely lead it to move sideways albeit in a tight range of Php4.75 to Php5.07 in the near term. Note that an ability to hang around at a higher ground (at the mentioned area) despite its resistance ahead may likely be a precursor of a potential break past Php5.07 that may then send it to a new high of Php6.00.
*Consensus target price or average target price given by the major foreign and local brokers of various stocks are available in our Equity Advisor!
For those who are interested in technical analysis or learning how to profit using charts, we have an upcoming Technical Analysis Course on October 25-26, 2014. For more information, you may send us a direct message here or text/call (+63) 917 899 90 09.