EGO bull flag expecting a nice reboundEGO has nice bull flag and expecting a rebound the beginning of this April.
EGO
EGO - Fallen angel formation long from $1.27 to $1.63EGO came out on our fallen angel scan. It is a play on the gold. It has broken down from a long-term downward channel & now seems getting some upward momentum.
We think it has good upside potential from here.
* Trade Criteria *
Date First Found- December 13, 2017
Pattern/Why- Fallen angel
Entry Target Criteria- Current price ($1.27)
Exit Target Criteria- $1.63
Stop Loss Criteria- $1.07
Indicator Notes- Good money flow accumulation
Special Note- Very strong Financial Ratios
Please check back for Trade updates. (Note: Trade update is little delayed here.)
EGO / ELD Possible PullbackThis is getting a little top heavy right now with the RSI (5) and MACD showing signs of a short term pullback brweing. Volume has decreased the last couple of days as well which usually means buyers have started to slow down. Anything can happen tomorrow with the FED rate decision however, but ultimately gold prices need to move higher in order to reach and pass the breakout area. I sold my position last week (too soon of course), but readying myself to get back in if we get a pullback to anything under the 200 MA.
