GREY:ENGFF - Post by User
Post by
zetaon May 06, 2008 4:20pm
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Post# 15043877
TA AND CHART FOR WEDNESDAY
TA AND CHART FOR WEDNESDAYHi -- Another strong day for ENG . I would expect more upside today and it is good to see the volume building. There will be resistance - sellers - in that 2.50 to 2.80 range for sure, but generally, ENG seems ready to make a run at $3 . The candle today was a White Upper Shadow Candle that is bullish and the gap up this morning makes this pattern very bullish at this point. I consider today a cleanup day -- in other words - gap the stock up and then sit and let it clean up nicely in the 2.40 to 2.50 range. The MACD indicator has turned bullish and I would be expecting more of the same tomorrow . ENG needs to breakout over the 20 ema to establish that a strong uptrend is in place. So -- looks very good for tomorrow - watch for ENG to breakout over the high of the candle today -- 2.52 to confirm a run into the 2.60 to 2.75 range. The candles are still very bullish in my opinion. Good luck tomorrow. Looks very good at this point. Here is the daily chart. Zeta
