MEE Strong buy

[wiesman02]

Bought this in Febuary in my IRA around 23. Peaked at almost 31 and I luckily sold it b/c I had another stock I wanted to buy. 2 days later it corrects. Looks like its done correcting and now wants to go back up.

Looks like an easy 10% if you buy Monday. Then again, there's no such thing as an easy 10%.

 

[FXTraderWill]

Quote from wiesman02:

Bought this in Febuary in my IRA around 23. Peaked at almost 31 and I luckily sold it b/c I had another stock I wanted to buy. 2 days later it corrects. Looks like its done correcting and now wants to go back up.

Looks like an easy 10% if you buy Monday. Then again, there's no such thing as an easy 10%.

You're not concerned with the effect the EPA's lawsuit will have on the company?

 

[michaelscott]

I would not consider buying this stock until it either closes above 20 day moving average or reaches down to the 50 day moving average(on a credible bounce) or reaches down to the lower Bollinger and appears to bounce.

Noticed how the stock closed right under the 20 day moving average indicating that its probably a place of resistance.

Look back in the past where the stock was trading down and you can see a white candlestick in a series of red candlesticks. Then after that you see more red candlesticks. So even though the stock appeared to have turned, this may in fact be just a short covering rally.

On a positive note, it does appear to have bounced off of a short-term trend line which seems like support.

The bottomline is that in the past when this pierced through the 20 day moving average the odds were that it would surely touch the bottom bollinger band in the future. Therefore I would not consider touching it until it reached the bottom bollinger band.