xtf_ze_trader

ECX bullish breakout ?๐Ÿงจ๐Ÿšจ๐Ÿšจ

Long
ASX:ECX   ECLIPX GROUP LIMITED
EASX:ECX aka Eclipse Group has been held in the swing range from 1.2 to 1.5$. But as I prognosed last time, the structure was an ascending triangle which is inherently bullish and it has broken to the upside leading to the 1.7$ at the time of this post. My last post (https://www.tradingview.com/chart/ECX/M1...) had all the tech analysis about then price actions. Today I will share my observation on where this stock stands.

- This stock broke the major resistance at 1.51$ came back to retest it and immediately broke up higher to the bullish territory ripping up 1.58$ like crazy.
- Momentum is positive which is bullish
- price above LSMA and QLSMA pointing upside that is bullish
- price above 50 and 200MA
- One resistance at 1.76 has to be taken out to give confirmation of the real breakout. It has been attempted 2 times but the price was rejected.
- No clear bearish sign at the moment so i will steer clear from any short position

For the late comers, please wait for 1.76 milestone to be achieved and probably for 1 or 2 days of price closing above that level.
I will keep you updated of any change that happens,. Stay safe and have loads of profit. Dont forget to smack the likes.

XTF