Stock in Focus: Megawide Construction (MWIDE)

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The rally of Megawide Construction Corp. (stock symbol: MWIDE) from late-November has hit a snag even before the new year, and it retreated just ahead of the 15 psychological level. That retreat has stalled midway of the said rally, with 13 currently keeping a lid on price.

The Money Flow Index (MFI) is staying at low levels, but it can rise if bulls can make something happen in the coming week.

Price is stuck between 10 and 15. I would like to see this stock challenge – and break – the 15 level. Buyers will face more hurdles beyond 15.

MWIDE Daily chart, January 17, 2014

MWIDE Daily chart, January 17, 2014

 

 

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