Disclaimer:This is for entertainment purposes only. I have been moving into stocks recently. And I want to see the movement of small cal stocks. I am analysing stocks and please do not invest your money based off of my analysis , especially this one. This is an experiment.
EMMBI is resting not only on a fib retracement, but also on strong support. It has fallen close to 30%. And if the support is held, and we see a good bounce, 9% long position may be on the move.
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As i said earlier the support was a strong one. It bounced close to 10% from the support. This may or may not be a bull trap, only if the 180.95 strong resistance is broken on the daily a long position can be taken at target of 189.95. If there is a bounce from the resistance short it till the old support.
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As i said earlier the 180.95 support was broken and it went up close to 5%