ELDERS LIMITEDLong
ELD with highly compressed GMMA bands
ELD has significant GMMA band compression on both the long and short sets of bands.
Note that the green shorter bands have been able to pierce the red bands are now retending upwards.
The last two similar situations for ELD circled in white, with compression of long EMAs of the GMMA following green bands piercing, preceeded significant uptrends.
To add a little more fuel to the ready-to-burst thesis, price is about to cross the 100period SMA (not shown, free account lol).
On the RSIMA the breach of the average above 50 could round into a bottom above the neutral 50 line.
Finally in volume terms the recent downtrend in Nov - Dec produced no fall in the OBV creating a divergence with price.
Stop loss placed near the established support level
Note that the green shorter bands have been able to pierce the red bands are now retending upwards.
The last two similar situations for ELD circled in white, with compression of long EMAs of the GMMA following green bands piercing, preceeded significant uptrends.
To add a little more fuel to the ready-to-burst thesis, price is about to cross the 100period SMA (not shown, free account lol).
On the RSIMA the breach of the average above 50 could round into a bottom above the neutral 50 line.
Finally in volume terms the recent downtrend in Nov - Dec produced no fall in the OBV creating a divergence with price.
Stop loss placed near the established support level
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