Mega Uranium Ltd. – Disappointing but still a hold

by JDH on April 7, 2007

One of my big disappointments over the last month has been MGA.TO – Mega Uranium Ltd. Since making a new high of $7.49 on February 26, it fell all the way to $5.31 on March 14. Since then it has recovered to $6.41, but compared to a stock like FRG.TO – Fronteer Development Group Inc. which is making new highs, it’s not all that impressive.

Mega Uranium Ltd

Obviously some effort will be required to break through the resistance in the $7 to $7.50 area, so Mega may not be a stellar performer for the next month or so.

However, both the MACD and the RSI are in perfect position for an advance, so for now, I’m holding.