A renewed ray of hope has been cast upon Eros, it has recently seen a beautiful bounce from the floor of 1.25$ to 4$, a 220 % increase in a matter of 4 weeks. Though the glimse of hope, it gave it all back to Mr. Market, after potential profit taking and missed earnings.
As of now we can see lot of accumulation & Bullish RSI. It may not just be a pump and dump or bear trap. It didn't break the support of 1.20 and have now seen some nice increases since its recent test.
We shall see if Eros will prevail or surrender.
First profit target is; 4$ and a possible double top and dump back to 1.25$ or even a higher low, which could set us up for PT2.
Second PT is; 5.60$ near the 50 week EMA
Third PT is; 6.90-7 where we have the recent break of a support level and broke out to the downside from a descending triangle. Might go back and test the former support level.
As of now we can see lot of accumulation & Bullish RSI. It may not just be a pump and dump or bear trap. It didn't break the support of 1.20 and have now seen some nice increases since its recent test.
We shall see if Eros will prevail or surrender.
First profit target is; 4$ and a possible double top and dump back to 1.25$ or even a higher low, which could set us up for PT2.
Second PT is; 5.60$ near the 50 week EMA
Third PT is; 6.90-7 where we have the recent break of a support level and broke out to the downside from a descending triangle. Might go back and test the former support level.