I like EML fundamentally, and the chart looks bullish. However, I'm hesitant to get in on this one as the bullish C&H pattern inside the trend suggests the run up could be slowing.
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Despite todays solid report of 25+% revenue growth and 65+% profit growth we see a 13+% pullback. Technicals suggest Long term trend still in play.
Order cancelled
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Long term trend line has broken. Techincally breaking down.
Hi there. What are your thought on EML at the current SP. Do you feel it is currently extended and due for a pull back? I'm looking for a good entry point. Thanks
rutt
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@SindubioJunior, hey m8, yeh imo, the last week or so of bullishness does have it looking technically extended, the bollinger bands suggest that. As for an entry, I'm looking to get into it as well, however, I cant see a clear level, tbh i'm not sure we get too much of a retracement before earnings, unless the overall market heads south. Thats my thinking.
SindubioJunior
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@rutt, cheers mate. I have decided to enter. Long term hold for me and happy to stomach any volatility that comes with it.
rutt
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@SindubioJunior, Good one, enjoy the ride upwards, hopefully!!!!