Uber Max Analysis using AI Monica backtestedMEG.TO Trading Methodology 🎯
1. The Line in the Sand (LITS) System
Current LITS: C$27.89
Purpose: Acts as our binary decision maker
Rule: Only trade bullish above, bearish/avoid below
Current Status: Trading at C$23.09 (BELOW line by -17.2%)
2. Entry Criteria
Must be ABOVE C$27.89
Volume confirmation required
Prefer low IV environments (<30% IV Rank)
Look for consolidation patterns or clear trend
3. Options Strategy Preferences
ATM Strikes: Primary focus due to higher Vega
Delta Target: Minimum 0.30 delta
Position Sizing:
Larger above LITS
Small/No positions below LITS
4. Risk Management Rules
Hard Stop: Below Line in the Sand
Position Exit:
Full exit when price breaks below C$27.89
Scale out at technical resistance
Options Specific:
No naked puts below LITS
Define risk on all positions
Roll or close at 21 DTE
5. Current Market Context
52-Week Range: C$19.68 - C$34.00
Trading Channel: C$22.54 - C$25.06
Status: Bearish (Below LITS)
Action Required: NO new bullish positions
6. Recovery Requirements
Reclaim C$27.89
Hold above for 2-3 sessions
Show volume confirmation
Develop clear base pattern
7. Key Principles
Discipline over emotion
System rules are non-negotiable
Capital preservation first
Wait for setup, don't chase
This methodology has kept us out of trouble during the recent decline from C$34 to C$23.09, demonstrating its effectiveness in capital preservation. Remember: The best trade is often no trade when conditions aren't met.
MEG trade ideas
MEG.CA: Ascending Triangle, Not Confirmed (47.66%)(7/1000)(7/1000)
Ascending Triangle for MEG. Not Confirmed yet.
Pros:
1- Bullish Ascending triangle
2- Descending volume during formation
3- PPS above 50MA and 200MA
4- RS above 0 but just a tiny bit
5- R/R ratio above 5
6- 250RSI above 50 but a bit flat
7- 50MA above 200MA
8- 50 MA and 200MA ascending.
9- Golden cross circled in blue
Cons:
1- ATR is descending, less volatile
2- Triangle not confirmed yet
Target price is 34,92$.
Again, stay humble, have fun, make money!
MAAX!
MEG Prediction for Reversal and Good Buy PointsHey Everyone. Over the past few weeks I've been following MEG (Meg Energy) on the TSX and I'm sharing my prediction for a reversal of current price. With a beta of 3.11 MEG is very volatile and over the past few days a few strong patterns have surfaced, obviously the small double bottom (#2) APR 7-APR 8 that proved to be true. Now we see a double top surface (#1 & #3) after APR 8. This could indicate a consolidation trend with a descending triangle pattern, illustrated in the green which could be followed by a sharp decline in price breaking current support @$2.62. On the other hand we could see a sudden and immediate downturn at a similar rate that it fell when the stock priced dropped in March due to COVID, because of the current uncertainties around Crude prices. This would be key to watch to see if this downtrend is interrupted by previous support (#5 ) This would create a great buying opportunity with a potential of a 100%+ return if Crude prices stabilise or rise at these times. MEG is a fairly solid company that will most likely pull through this crisis and be successful afterwards, they're also one of the main oil producers here in Canada which many larger companies rely on. The balance sheet isn't amazing, however the threat of bankruptcy is low since they're a key player in the Canadian Crude economy and could be possibly subsidised by the Canadian government if things take a downturn within the company. Obviously the price and everything is completely up in the air and relies on the price and demand of Crude oil.
Let me know what you think!