Figure 1: MEG Saucer or Rounding Bottom Pattern
Last September 30, I have posted MEG that it was forming an ascending triangle pattern when it was still around P2.23. MEG easily breakout from that pattern and hit its target price. But did not sell yet coz of huge upside potential. Base on its fundamental valuation MEG is still undervalued and remains to be undervalued to this day due to recent adjustment by COL to its FV. Anyway, technically I am seeing also a huge upside potential of MEG. Chart wise it was able to finally confirmed the rounding bottom pattern. Target is P4.20.
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