JSE:EOH looks to have completed its pullback from its previous move up. Price rejected the 61.8% Fib retracement level and has bounced off the intersection of previous trendlines confluenced with the 50% retracement level. Should this be the start of the next move up, a potential target could be the measured move of the previous leg up bringing a target of 960 -...
FIB 38,2 Retracement in line with 100MA - R6.50 on the cards, be on the look-out for this. I wont buy at current levels as too much volatility, but should it reach 38,2, then yes count me I'm in! Position from now till December/Short.
EOH has made a significant pullback since its massive 3 day rally back in June. It's gone sideways for almost 2 weeks now with R5,20 been the level of resistance. A close above R5,20 would trigger a long with R6 been first target.
EOH has been weak but we have seen a wedge forming as price pushed lower. With some kind of base forming, we have seen the wedge break to the upside on volume. Testing R3 volume has increased. The recent pullback has been on declining volume and we are now seeing a significant bar and looking for the further push higher.
EOH still showering similar patterns in the horizontal trend. Very strong opens and retracing during the day. It’s fair to expect another strong open in either direction. If we get a positive open, will implement a partial exit in the R 6,60 - R 6,70 zone anticipating further drop to around R 6,40 or less. This will reduce our risk exposure and give us an...
Very positive start to the day as anticipated in my last analysis, and again the usual cool off we have seen this past week repeating itself. Modestly expecting to close off the day at around R 6,90 to R 7,01 and my worst case scenario at around R 6,41, opening up a good opportunity for late comers to buy in and possibly catch the morning wave. Haven’t seen EOH...
EOH has been on an extremely positive run after it was announced they paid off a large portion of their debt two months in advance. If the past two days are our reference, we may see another sharp increase in the morning and perhaps a slow down around R 7,60 after breaking an unconfirmed R 7,01 resistance. Hopefully a slowdown around R 7,20. If market is not so...
EOH tested a major level from 2007 at R10 and held. We could find an entry on the next test around R14 level, trading a higher low setup. This could potentially turn into a long term hold past current levels to test. Just have to watch the price at those levels and decide when we get there. Not financial advice, manage risk! Take care.