MEI looks like it has now finally broken out on the weekly chart with a very strong chance of a significant upward thrust in the next few weeks.
Since my last update there was a technical analysis delay with the breakout given the very poor market conditions. The broker Shaw capitulation dumped 5M shares on market into what was the major support at 1.5c and then 1.4c which has taken some time to clear out but all is now looking good for a move back up!
Lots of other specs have already reversed substantially more than MEI off their lows so I do feel like we are on the cusp of a big move up.
Remember, the more 'weak hands' that sold at 1.5c, 1.4c, 1.3c, etc. the less resistance there will be on the way back up.
We are priced as a shell without good management and with mediocre projects but we all know this is clearly not the case.
There is also plenty of cash left so no CR risk for at least six months unless there's a huge acquisition IMO.
There's just so much upside here and with the AGM on Thursday next week we should hopefully receive lots of positive news before year end!
Joyce sampling results
Joyce drilling?
Geophysics VTEM results
Further drilling plans at Iron Mask et al?
Possible acquisition?
