EVERGRN Buying opportunities or distribution?
Why Buy?
1. Price test EMA100
2. Retest fibo retracement 61.8%
3. RSI test 40 level (Mark Up area) after a drop on 11 Jan 2021.
4. This counter is supported by multiple big boys.
Watch out for
1. RSI has tested 60 level multiple times (MarkDown area), if RSI close below level 40 there will be a chance for another spring down.
2. Recent quarter report not so good.
1. Price test EMA100
2. Retest fibo retracement 61.8%
3. RSI test 40 level (Mark Up area) after a drop on 11 Jan 2021.
4. This counter is supported by multiple big boys.
Watch out for
1. RSI has tested 60 level multiple times (MarkDown area), if RSI close below level 40 there will be a chance for another spring down.
2. Recent quarter report not so good.
Comment:
Looking good + catalyst for higher demand in wood