EGY is forming a bullish pennant flag. This is confirmed with an approximate price consolidation within the red triangle on the chart. Interesting part is that the flag intersects the day after earnings. Implying a nice setup.
EGY will form a death cross either later in the trading session today or early tomorrow. Set a stop loss at 1.59 and rebuy on the rebound at 1.55. There's a huge potential floor beneath this. Long in the mid term, short in the short term.
EGY is in the early stages of consolidating into a high and tight flag formation along the support line following its most recent jump. Watch for a pop in mid to late next week.
