Metalico Inc. (MEA)

[dmlabuda]

Weekly Chart Analysis - As a swing trader, I like to initially identify good buy situations by looking at the weekly chart first. In the case of MEA, you can see from the chart below that all the oscillators are giving overbought readings and we have bullish divergent between the RSI and the Price. There is also what I term mild bullish tension in the MACD. All in all, the weekly chart pretty much coincides with the video presentation of the daily chart. In my opinion, it looks pretty good for taking a long position. I would consult the hourly and 15 minute charts first to determine perfection timing for entering this market. MEA - Weekly Candlesticks