OTCPK:EUCTF - Post by User
Comment by
xsnrgon Jul 23, 2015 1:55pm
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Post# 23953444
RE:Technically great indications of a strong reversal NOW!
RE:Technically great indications of a strong reversal NOW!Chrisgblr wrote: I know most people don't believe in TA on penny stocks, but I think EUO has been traded differently lately and I looked over some TA strategies. It seems like a strong reversal is imminent right now.
- SP has been holding on just over the 50% Fibonacci mark since the beginning of the month;
- MACD pretty close to crossing over EMA 9 right now;
- Volume is higher today on decent gains;
- A strong divergence is happening between the recent stock price and MACD histogram.
I am still looking at other signals, but so far it looks great!
You wouldn't normally think of a venture stock to be "safe harbour" in a time of crisis but that's exactly what EUO has managed to pull off. Chalk it up to being way undervalued for a company with strong earnings. If we go up 20% on a day when the markets are shaky imagine what will happen when the markets are good.
I think what everyone is waiting for is next quarter's results, if they can turn a back to back quarterly profit this thing will gap open at 20 cents. Everyone is waiting for that sign and then we are golden but if you wait for results you might have to buy at 20+. Then again the stock will likely go to 30+ if results are ok so maybe that's not such a bad strategy after all.