Post by
david39 on Aug 12, 2010 7:37am
EEE
People are adding EEE to our watch-list this morning. The price made some decent gains in the last two weeks and as a result, people are seeing some profit-taking. The selling pressure caused the price to trade below the 61.8% fib retracement level so there is a good chance people could see more selling in the near-term. However, if buyers do start to jump into the marketplace, people could see some quick profits. The key to this reversal play is to wait for confirmation. The price has to close in positive territory on strong volume.