Megaworld To Challenge Php5.00 Key Resistance
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.
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