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Target Prices:
Short Term: 2.35
Mid Term: 2.84
Long Term:  3.5



Megaworld Corporation (MEG) showed some strength today after recent correction. Although, it failed the break the 2.18 resistance last June 1, the price is now trying to form an uptrend with a higher low together with its RSI. RSI is still not overbought at 46 level, thus a potential for more uptrend is is still high. I can say that currently, It is going to the 3rd wave of Wave C. 

Support:
S1 - 2.05, S2 - 1.93

Resistance:
R1 - 2.18, R2 - 2.27




 


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