There was previously at 13p too much price congestion and a hard resistance to break so for me it was a no brainer to sell there and re-buy it lower.
20ma doesn't seem to be holding as well so for the moment I can see we might drop back down to possibly 10.5p but it depends on the volume & news.
VR company. Just raised £5m at 8p.
The candle today is very strong looking & looks like it may have come off a double bottom. Overhead resistance from the falling trendline and 50% Fib needs to go before we look completely bullish (8p and 8.75p).
Clear bull and bear cases for this one. I like the bull side, for me this has never fully retraced satisfactorily from the r cent highs and gained consolidation strength. The 50% Fib level does look like a real pivot level but it has been tested aggressively twice now and found buyers sub 7.5p.
Possibility of a larger background sell in my view too.
After a long period of trading the 20DMA and retracing no more than 50% we had an Intraday 78.6% retrace with full day retrace settling at the 61.8% level. Techs have started to advance along with the price and I think the 20MA is probably now the only barrier to a sharp move towards the 161% extension at 16p
#EVRH has been consolidating within its rising channel and may now have made a decisive move to the upside. Would be useful to see it close above recent resistance of 11.7p. Other charts have highlighted a potential rise to 14p, which would be nice.
There is definitely some resistance still to get past here (see RSI) but I think we have seen a break from recent consolidation period with the price moving towards 13p. Breaking that will give us the bigger move to around 18p I think.
The Co's share price is very bullish at present. in terms of support areas we have the upward trendlines and also the top of the previous channel that could provide some support. The psychological 9 level may come into play.
Although my bias is long I think we may see a small pull back