but so far ..supply outweighs demand..
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 middle 8.05 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. GLTA
Bullish volume seems to be coming in on the daily chart.
EGO has nice bull flag and expecting a rebound the beginning of this April.
Nguyen Squeeze Indicator shows this stock is about to squeeze. RSI also strong. Go all in now and stay for $8-12 first leg, then $20-30 second leg.
This is why you should BUY. Look at the swing! What is better than gold now?
Support is at .72 and falling, a close below there and my next support is at .52 First resistance is at .82 second upper rail of falling wedge at .90.
the target is supported by the back test of the mid line of the projected fork, bottom rail of falling wedge, finish of 5th wave,
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.
Gold is cheap and needs a rebound. Moses Malone kinda type. Don't have a position here, but watching the magic.
Good momentum here, could run fast, watch for high volume on breakout. initial PT 1.46