We got the breakout yesterday in Midwest Energy Emissions, aka we have been looking for as recently as last Friday, and it was spectacular, as you can see on its latest 3-month chart below. This breakout was due to the news announced yesterday that ME2C Eviormental Announces New Three-Year Supply Business Estimated up to $3 million Annually.that
I did not know about this development, and the assessment that it would break higher was purely the result of a technical analysis of the stock.
No action is required on our part.
We stay long for the intermediate uptrend just starting, and we can see on our chart the MACD indicator showing that it has plenty of room to run.
However, if you do not own the stock, DON’T CHASE IT HERE. It may now either consolidate (perhaps after running higher) or react back, in which case it will be in order to buy or add to positions.
Midwest Energy Emissions' website.
Midwest Energy Emissions Corp. closed at $0.40 on April 13, 2023.
Originally published on clivemaund.com on April 19, 2023, at 7:55 pm EDT.
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