EFX approaching $100
EFX has been in a pretty good trend since 2012. There have been a few pullbacks which would have been too deep to wait out. But more recently it looks like price has begun to trend again quite nicely.
As yet we are not seeing a good linear trend. After the fake breakout below the 200sma on the daily chart (October 2014), however, the daily 50sma has provided good support.
Since the earning announcement last month (April) price gapped up and pulled back slightly - but this time staying well clear of the 50sma. The pullback was short and neat, suggesting further momentum to the upside.
However, this stock has not yet proved it can produce good linear trends for prolonged periods. With the $100 figure imminent I will be waiting a little longer to see how the trend develops. With my style of trading I prefer to wait for really good trends to emerge then trade them for weeks, months, or even years.
As yet we are not seeing a good linear trend. After the fake breakout below the 200sma on the daily chart (October 2014), however, the daily 50sma has provided good support.
Since the earning announcement last month (April) price gapped up and pulled back slightly - but this time staying well clear of the 50sma. The pullback was short and neat, suggesting further momentum to the upside.
However, this stock has not yet proved it can produce good linear trends for prolonged periods. With the $100 figure imminent I will be waiting a little longer to see how the trend develops. With my style of trading I prefer to wait for really good trends to emerge then trade them for weeks, months, or even years.
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