EGOs run seems to be over for now, it had produced a continuation gap (bearish candlesticks), but that alone isn't enough to make a confirmation. After today with the 10% drop on shelf offering news.. it formed a bearish engulfing candle. Bearish engulfing also alone by itself is not enough to say bearish also.. so you look for volume confirmation. It seems we...
Earnings out with CC at 11:30am... Australia is rallying hard with gold miners and gold is up big overnight. Earnings were decent but nothing crazy. Hoping for Greek mine updates this morning and we should be off the the races again
bollinger band gave me a buy signal....
upper band 8.32
lower band 7.78
look at those for pivots or gaining/losing...
In my previous post, I was bearish on EGO and bought a few puts thinking it was ready to turnover agan. Now watching it after it cooled off and has been; making higher lows the past few days, not breaking the trend line.. I am cautiously bullish. Looks ready for a push into the 8's. I bought some near ITM calls to grab some profit from the next push. More volume...
Looking for exhaustion on the EGO run from 3's. Volume is declining and approaching OPEX..
support around 6.80s then maybe look around the 6.00 area for support. finding support is tough on these kinda runs.
Ego has a small inverse HS pointing at 1.15 area hit the neck line and has been selling off with decreasing volume. Base line at .90 conversion .91 Vwrap .92 on the daily.The only problem is it is EGO.
It seems that EGO finished its correction and going to start a new rally.
The best Set Up would be a Buy Stop above the point marked with RED ARROW + 1 tik.
In the meantime, if a poll back happens, and price increased, the signal is more valuable.
Very tiny stop loss and very pleasant risk-reward ratio!
In God We Trust.