EBS possible setup with 2 major supports
Updated
EBS looks like a solid buy, I am investing at current price, if it goes down then I will add around second support.
Reasons to buy:
Once the FDA will approve its facility, it will fly. Also, even if it breaks current level 2nd huge support level is not that far. So, doesn't have much to loose.
Reasons to buy:
- RSI looks oversold
- Stock trading at long term trendline
- 2021 consensus earning estimate 9.01 which means 7~ PE.
- Volume is increasing which shows it is getting attention
Once the FDA will approve its facility, it will fly. Also, even if it breaks current level 2nd huge support level is not that far. So, doesn't have much to loose.
Note
Trade is still active, it is going the same way I had drawn
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