Risk On: +732c Risk Off: -655c Last: 712c - At lower end of linear regression channel - A break of line A_B adds conviction for a swing buy/long.
I like EOH at current levels. Their new CEO has been hard at work re-establishing trust in the market and they have pretty much settled and scrapped those ill-gotten government contracts. I believe they've turned the corner. Technically too! snapping the recent down trend after a nice recovery. It feels now that R8.00 will act as new support and I'm expecting the...
EOH 'flagging' for a move higher? Looks like it. A break could take us to 12/13.
We might see a slight drop up to the demand zone before we see a nice rise!!
We might see EOH go down for a short time!!
Rejection at Support level. Up by 7.37% from purchase price R7.87
I Will wait for fibonacci retrace to 613 level before considering a buy. Bearish engulfing candles signifies a turn around in trend. Price below 40 day moving average signals downward trend, but still above 200 day MA which coincides with bottom of rising wedge and 0.382 fibonacci level which will be a great place to buy.
Anticipating a rejection at 781 key level. A good price to buy and hold.
EOH found support around the 50dma. Today it broken above the small downtrend of the past few weeks on good volume. First target R9.60 and then R10.
The EOH Chart is looking quite good. It rebounded nicely off support, it is still trending upwards and forming higher lows. This share should head into the R11's
EOH is a solid recovery story and after a very good run in Q4 of 2020 is now consolidating in what looks like a bull flag. Watch for a break of this flag for a possible target between 1000 & 1100. No position. Wait for a flag break.
- Trade is 55% up from entry and looking good for a continued move up, especially as the fundamentals improve for EOH -Will look to add on pullbacks that are oversold , what remains now is to trail stops and follow the trend ... -- MANAGE YOUR RISK - - Disclaimer: All ideas are my opinion and should not be taken as financial advice.
EOH had a good run lately and is looking good to test pervious highs. 800 could come up sometime in the future once again. The market likes to test previously tested areas like the 800 level.
The PIC is down to owning 3.9% of EOH so we know who the seller is. Watch this share, with all the move to online it has a great future. With a great CEO to top it off.