EML after making a high in late April, it plummeted hard. Since it found support, the recent price action looks like a dead cat bounce. This price action does not give confidence and there could be one more leg down in the cards. It has very strong support at $2.60 level where I have my Buy Zone (between $2.60 and $2.80). I may buy near my Buy Zone after bullish...
EML is an ASX listed stock in the By Now Pay Later space which has recently seen a lot of chatter.
Looking at the chart, the stock appeared to be in a long period of consolidation between early May 2020 to December 2020, with price mostly below the 200 day MA during this time. A break out from the consolidation range looks to have occurred during the first week...
Key Technicals - Bull flag, buy on bullish candle breakout of flag.
Key Fundamentals - Expecting 50% revenue growth + Rotation of money into recovey stocks + Leading innovation in the payments space.
Bullish Confirmation Indications
Recent price action has confirmed a reversal by forming a higher highs.
1. Price has formed higher highs
2. It has formed a Golden Cross
3. After forming a Higher High, price failed to continue upwards and is now pulling back
4. This pull back has come down and has entered in the Buy Zone and Fib retracement zone of( 50% -...
In at 3.12, was down a few hundred but decided to hold as the fundamentals look good and as covid-19 fucked off and the economy opened up the recovery of EML is inevitable. I will be moving my stop up to break even asap. Looking to see if it breaks the down trend and breaks the 3.85 resistance.
If you ask me the basic technical analysis, EML is not yet back to the uptrend.
But i am still very confident for EML in in long term, as it's back to above 50 days SMA. Previous EML has been so well when you look at last few years. Most time seating positive above 50 days SMA
EML Payments Limited (EML, formerly Emerchants Limited) are the provider of payment solutions in Australia offering payment technology solutions for payouts, gifts, incentives and rewards, and supplier payments. EML issues mobile, virtual and physical card solutions to some of the corporate brands around the world, and manages more than 1200 programs...