EOH is running in the band as indicated.
Good short term trade opportunity
Support - R18.35 - Enter near this point
Resistance - R21.60 - Exit near this point.
EOH tested a major level from 2007 at R10 and held. We could find an entry on the next test around R14 level, trading a higher low setup. This could potentially turn into a long term hold past current levels to test. Just have to watch the price at those levels and decide when we get there.
Not financial advice, manage risk! Take care.
EOH H4 (240 Minute) Timeframe
Reasons For Entry :
- RSI DIVERGENCE
- QUASIMODO TARGET
- ENDING DIAGONAL
Everything Good Yearns Patience And Time
Disclaimer: Trading stocks, commodities, futures and forex has a level of risk and may not be suitable for all investors.
EOH had a great run the last 2 days.
Looking at the above chart it broke through resistance line like a rocket - now new support if tested.
Still in bearish band.
New resistance at R27.00 to R28-00
Breaking through new resistance may indicate a Bulls breakout
A test of R20 is possible on this share. Miss priced and now correcting. An opportunity for cowboys only. Extreme volatility, but maybe worth a punt. Stick to stop losses.
Trading Methodology:
1. An asymmetric bullish/bearish pennant is drawn using ascending and descending curved trend lines with a minimum of three price action touche points per line. The direction is determined by the previous trend.
2. The angle tool is applied from the earliest two trend touch points, beginning at the earliest touch point.
3. A trend-based...
