GREY:ENGFF - Post by User
Post by
zetaon Apr 25, 2008 6:26pm
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Post# 15011329
TA AND CHART FOR MONDAY
TA AND CHART FOR MONDAYHi -- A very good day for ENG!! Traders in these speculative stocks turn on a dime and it is hard to even guess what they are going to do next. In the case of ENG - that was a Bullish Engulfing Candle today -- this is a very good sign that the bottom is in or very close. It is best to have confirmation of this Bullish Engulfing Pattern the next day with a higher high, higher low white candle . I was taking a chance buying today when it reversed , the the buy signal to watch for is if it can break over the high of the candle today -- 2.18 -- This would be strong confirmation that a new uptrend is building. It is possible tht ENG will sit and digest in this $2 range for a day or two, but it is just as possible that the stock will gap up on the opening and keep going. So -- best to wait for the confirmation if you are wanting to buy more. I think the bottom is in and we should see some good action upside next week. Good luck with this one and have a good weekend. Here is the daily chart. Zeta
