Stock in Focus: Megaworld (MEG)

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The price action of Megaworld Corporation (stock symbol: MEG) last week looked a little more promising as it printed a higher swing low before the year 2013 closed. Now, price is back up banging on the doors of 3.40. Bulls should break this area with conviction since there are a lot more problem areas ahead.

The Relative Strength Index (RSI), now in its 49s, is ready to break north along with price.

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MEG Daily chart, January 3, 2014

MEG Daily chart, January 3, 2014

 

 

 

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