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EGR - onward and upward?Quick look at EGR which is looking at a nice end to 2020. After a run-up in September following positive news, EGR dropped off and failed to break through the 0.382 fib resistance. Support has been found at $0.14 (Support 1), confirmed by WVF which strongly indicates market bottoms at this level. Trading has since pushed away from Support 1 and the 0.5 fib resistance has been tested multiple times in the past week. A positive end to the trading week sees EGR placed to test the 0.5 fib resistance again next week, after entering an upward-trend channel. This is likely to continue as indicated by the WVF trend, in addition to a decrease in volatility as per BBW and a change in momentum indicated by the MACD. If the 0.5 fib resistance is broken there is a good chance that this will run up to the previous 0.382 fib resistance.
ASX:EGR
by chartorscience
Potential LONG Position EGRSMP TRADING SELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY SMP Strategy Market Direction: Long Position Chart time frame - Daily Timeframe - 1-7 days A – Activating Event Market will meet support in zone @ current levels - ... . In order to enter into this trade, the pair MUST be in line with my Entry Procedure.... B – Beliefs Market will move towards the first Target 1 level @ 0.210 C - Fundamentals that may affect the pair N/A D - Trade Management Entered @ ..... Stop Loss @ ..... Trailing Stop Loss@..... Target 1 @ 0.210 Target 2 @ .... Risk/Reward @ 1.2.5 Happy trading :) Follow your Trading plan, Remain disciplined and Keep learning !! Please Follow, Like,Comment & Follow :) This information is not a recommendation to buy or sell. It is to be used for educational purposes only!
ASX:EGRLong
by SMPTrader
170% and no turning back.Ecograf have performed exceptionally well after its SPP at 6.5c and are currently up 170%. The new gains were mostly from publicity and securing land in Rockingham for their Ecofriendly battery graphite processing facility. Investors would be welcoming the improved advertising effort and increased frequency of their announcements. Because prior to this, announcements were very scarce, and there was a lack of interest in EGR which showed in its low liquidity. However, the low liquidity in the past could be a sign this stock is tightly held, and a tightly held stock that has more publicity will generate more interest and therefore increase demand. To confirm this theory, I did notice there has been a pattern of accumulation throughout this SP growth cycle on CMF and its only getting bigger. The reduced drop in SP (higher lows) tells me people are buying and holding for the short to medium term. There is a lot, and I mean A LOT of selling from 20c and up, so this seems to be the overvalued area. A positive change in fundamentals, or good luck? will be the key in allowing this to move to mid-high 20s. Since my last idea on EGR they have secured an offtake with ThyssenKrupp and been granted the option to lease for the Kwinana facility. They are making good progress and building up fundamental momentum. EGR have a development ready graphite mine waiting on final approvals from the Government of Tanzania. This cannot be far off, because the only thing that was holding EGR's finance back was the mining regulations (I think), and I believe the new regulations for graphite have been written and published. The 2 volume spikes were caused by, (1.) EGR appearing in the Sydney Morning Herald. (2.) Tesla's "pump n dump" battery day, EGR presented at Benchmarks. (3.) Could potentially be further offtakes, strategic partner, finance, further government support. What's the next value adding catalyst that will give us the propulsion we need? RSI in oversold territory and approaching low 30s, proved to be a strong support in the past and there might be chance of a reversal here. Bullish trendline confirmed. Support at 18c confirmed. To top it all off we see a nice ascending triangle forming, a bullish signal. But, if we fall below support at 18c, we might be back down to test the next support at 15c. All in my humble opinion www.smh.com.au www.proactiveinvestors.com.au www.australianmining.com.au www.manmonthly.com.au
ASX:EGRLong
by DJWTrading
Falling wedge breakout, strong reversal signal?A few signs tell me where in for a trend reversal. 1.Downtrend and falling wedge breakout. 2.CMF shows accumulation, trending upwards as the SP was still downtrending. This happened a while back during sideways movement and was followed by a spike. Although it did continue down before, I think this time is different because there is a clear breakout here. 3.Large move off the SMA 4.RSI above resistance line. EGR do seem like they're in better position now, not far off securing finance for there Epanko mine and graphite battery facility. Offtake agreements are being finalized for ecografs high quality fines. Samples were recently approved by customers.
ASX:EGRLong
by DJWTrading
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