TSXV:EPO.H - Post by User
Post by
WaveRiderX1on May 19, 2011 4:52pm
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Post# 18603104
5th wave coming
5th wave comingLooking at the charts of epo looks like a 5th wave is due to complete a 5 wave rise from the lows (
.205). Here's how I count the waves starting at the low of 0.205:
W1 ended at 0.265
W2 retraced to 0.235
W3 rose to 0.32
W4 retraced to 0.285
In Elliottwave terms we need one more wave up to complete the 5 wave sequence - the most common relationship is W1 = W5. Which means we may see a rise tomorrow to the 0.36 cent range.
Two other clues about the price action: positive divergence on the MACD (price making lower lows whereas price is not - look at 60/90 minute chart with MACD) prior to the lows. Second, the very strong divergent lines on the MACD at the highs this week -confirming Wave 3 price action.
Just a technical view of the market psychology of this stock - more than enough volume for herding patterns to emerge.
WRX1