TMoneyBidness

EFN: Great buying opportunity...20% down from now.

TSX:EFN   ELEMENT FLEET MANAGEMENT CORP
Element Fleet Management provides management services and financing for commercial vehicle and equipment fleets.

There is bearish rsi divergence here. Price is rising as RSI is falling. Last time this happened, it corrected down below white line 200 ema .

As for price action analysis, we're currently at a major resistance area . I see us bouncing off this level, correcting down. I'd likely buy somewhere below the 200 daily EMA , (catch the mid-lower part of that gap fill before rocketing up to 14).All gaps must fill at some point. You can see the red boxes represent gaps that have not been filled. But which will be first?

This is invalidated if we get a big green candle in the coming couple of days.

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