I agree. That's why I bought 2,000 shares at $13.67 and holding. The chart looks like a "coiled spring" ready to make a significant move higher. Of course, if the overall market breaks down, MEG will too. I assume you meant a daily long term chart as opposed to a weekly or monthly long term chart. The price is now above the 10 day avg which is above the 50 day avg. Most indicators are pointing north!
How about that! The stock price was down 55 cents early in the day and closed up 6 cents at $14.39! The best quarter MEG has had in many years. Buy now!
Since when was it a bad thing for MEG to make any profit at all? Misses "estimates" by 5 cents according to only 3 lousy analysts of which one of them was calling for 25 cents. That stupid estimate raised the average significantly, hence, "missing" by a nickle. I think it was a very good qtr considering the history of this company.
Many broadcasters were up significantly today while the overall market was in the dumps. I thought that was a very good signal to get back in. I bought 2,000 shares of MEG today. If I'm wrong, I'll be buying more at $10.00.
Not any more. I think the selling is over. Gabelli upgraded to a buy this morning. If the big seller was Standard General, they must be finished. Time to rise from $13. It's up $1.65 today at the moment.
You may have something there. Standard General bought over 26 million shares in Nov of 2013 for $400 million at $15.01 per share.
Very hard to say. If it doesn't stabilize here in the $13 area, it can easily fill the gap at $10. I want to see it move over the 10 day moving average before buying. I don't understand the on going free fall unless a fund or two are shedding large amounts of shares. If so, this will continue until they are finished selling. At that point, it could have a huge rebound.