ECHO ENERGY PLC ORD 0.25P

LSE

ECHO

Bought & sold twice this stock but looking for a re-entry before operations resume later this year. Keep a look out, price might bounce occasionally till then but best to look for a solid support area for entry. Looking for entry around 2.2p-2.3p but possible best to scale in as there will be volume around there.

At the top it is obvious there is a bearish divergence which is indication of a bear move to come. We had a break out at around 15.56p & plenty of resistance levels around there which will act as support so I will be looking there for a retrace before we push into new levels or go sideways for a while.

Bullish indicators with several fibs levels and previous support/resistance stop loss at 10.75p

Bullish wedge. Consolidated onto 61.8% retrace, so looking for move towards 161.8% area.