We got the breakout yesterday in Midwest Energy Emissions, aka ME2C Environmental (MEEC:OTCQB) that 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.
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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The above represents the opinion and analysis of Mr. Maund, based on data available to him, at the time of writing. Mr. Maund's opinions are his own, and are not a recommendation or an offer to buy or sell securities. Mr. Maund is an independent analyst who receives no compensation of any kind from any groups, individuals or corporations mentioned in his reports. As trading and investing in any financial markets may involve serious risk of loss, Mr. Maund recommends that you consult with a qualified investment advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction and do your own due diligence and research when making any kind of a transaction with financial ramifications. Although a qualified and experienced stock market analyst, Clive Maund is not a Registered Securities Advisor. Therefore Mr. Maund's opinions on the market and stocks can only be construed as a solicitation to buy and sell securities when they are subject to the prior approval and endorsement of a Registered Securities Advisor operating in accordance with the appropriate regulations in your area of jurisdiction.
1) Clive Maund: I, or members of my immediate household or family, own securities of the following companies mentioned in this article: None. I personally am, or members of my immediate household or family are, paid by the following companies mentioned in this article: None.
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