Erik wrote:
Could you please take a look at MET for me and tell me what you think. This is a high volume slow mover but I think it could be ready for a big push upward. It looks to me like it's been hovering around it's 50 moving average building strength with steady volume. Does candlestick analysis tell you anything.
Candlesticks are mainly used for identifying potential reversals. They're not telling me anything about MET right now, in the short or long term. The short term (daily) chart is a tough read. I see nothing but chop/consolidation. On Balance Volume has me a little concerned about the recent bounce off of the 50-day moving average though. But there's nothing in the chart that would make me take any action right now -- either getting in or out.
Here's the daily chart:
The longer term picture is much less ambiguous -- MET's in a steady uptrend. For the long term I'd want to be long until that trendline is broken.
