$EVN what a thing of beautiy!Backtesting to put in a double bottom, FBO the bottom line of the channel.
Let's see! Looking good to me!
EVN
EVN expecting to rally Using Gann's time count, EVN (gold) rallied up from March 5 for 87 days, and it was retraced down for 29 days, coincidentally the bottom was made on June *29*.
On the daily chart, there is a higher swing bottom and show in the circle.
this leads me to believe that EVN should be going up from here, and if 1st range repeats, it should hit 6.20 as the eventual target
EVN - Bullish Trade PlanEVN took a beating after gold price dropped but it seems that this current pull back is about to exhaust at the 61.8 Fibonacci level. Some bullish price action at the current levels will be an encouraging sign to get long for a potential target of previous highs. My initial target would be $5.00 level (potential 12% gain) and a tight stop below the current swing low.
Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
EVN - Bullish Trade PlanIt seems that EVN has found good support on the long term trendline and whenever it dropped, the trendline worked extremely well. This time too EVN has bounced off convincingly. This makes me bullish ECN and any little pullback could be a very good Buying Opportunity. I have marked a Buy Zone between $4.20 - $4.30. My trade plan is if price retraces lower, I would take a buy position in that Buy Zone after bullish price action, with a stop below the last swing low at $3.70 and targeting the old highs!
Please note these are my own notes for future reference, by no means trading advise to anyone. Please do your own research before entering into any trade.
Can AUS gold mining stock EVN drive against the market?Spot Gold.
The market drove the gold price down and closed below the open price of previous bullish candlestick.
This bearish engulfing is the first sign of bearish movement. It is also found near the resistance zone in mid-June 2018. Therefore, it makes sense for a technical correction.
Conversely, this AUS gold mining stock EVN behaved very well from the upward support trend line, where you can spot a bearish rejection at $2.60 in Oct 2018. Later a bullish breakout of rising triangle. The price also hit slightly above the upward resistance trend line.
As there are no bearish candlestick patterns, we move our eyes on the indicators of RSI and stoch (8,3,3).
RSI's value = 76.40
Stoch (8,3,3) shows a bit of down turn from a value of 100.
We can consider it is overbought and there is a false breakout since these indicators values are in historical high.
Thanks for reading.
$EVN $3.17 teetering on BreakoutChart has what i see/look for
Either breakout or catastrophic failure, Pnf says BO
Being held red, is always a nice entry for me
STT $3.62
FD holding
