MEG – Megaworld Corporation – Free Analysis – September 19, 2017

Posted On 19 Sep 2017

Megaworld Corporation (MEG) appears to be correcting today and has broken intraday a possible support line. The moving averages, however, are still bullishly aligned. There is also not much volume on the red candle today. MACD is still bullish while RSI is also correcting and is at neutral levels. Support is estimated at 5.33 followed by 4.98 while resistance is expected at 5.48.

Price-Volume Distribution

Majority of the volume was recorded at price 5.28 intraday. Majority of the trades were recorded at the same level. Current price is at 5.29. This means that 5.28 is a significant level and may act as support intraday.

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About the Author

The Stock Signals Philippines is the online news media arm of Equilyst Analytics. Inc., an SEC-registered stock market consultancy firm in the Philippines that guides Filipinos on long-term investing and short-term trading and offers mentoring services.