EOS: Higher Low Analysis 1H (Apr. 24)
X FORCE GLOBAL ANALYSIS:
Eos has been in an uptrend for the past few days. In this analysis, we explore the bullish and bearish evidence for the case of EOS based on its technicals
Technical Analysis
- Eos has been trading in an uptrend, above an ascending trend line support
- It has gone through multiple consolidation phases, with bullish patterns such as: the bullish ascending triangle, the bull flag, and currently the bullish pennant
- The Relative Strength Index (RSI) has also been trading in an uptrend, creating higher lows
- The Moving Average Convergence Divergence (MACD) shows an uptrend with its moving averages, and though it demonstrates bearish histograms, we see potentiality for a further move up with a golden cross
- We have broken through, and closed above the 0.236 Fibonacci resistance.
What We Believe
We believe that EOS' bullish trend will remain given that the bullish pennant pattern plays out, and that the ascending trend line support remains intact.
Trade Safe.
Eos has been in an uptrend for the past few days. In this analysis, we explore the bullish and bearish evidence for the case of EOS based on its technicals
Technical Analysis
- Eos has been trading in an uptrend, above an ascending trend line support
- It has gone through multiple consolidation phases, with bullish patterns such as: the bullish ascending triangle, the bull flag, and currently the bullish pennant
- The Relative Strength Index (RSI) has also been trading in an uptrend, creating higher lows
- The Moving Average Convergence Divergence (MACD) shows an uptrend with its moving averages, and though it demonstrates bearish histograms, we see potentiality for a further move up with a golden cross
- We have broken through, and closed above the 0.236 Fibonacci resistance.
What We Believe
We believe that EOS' bullish trend will remain given that the bullish pennant pattern plays out, and that the ascending trend line support remains intact.
Trade Safe.
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