EMLSimple chart.. broke out rejected at GP, Now retesting the trendline. probably another move incoming
EML
EMLKeep a very close eye on this counter. It is grooming to a big breakout very soon... close above 4.6 will turn the counter towards bullish side.
Note that all the MAs are converging together
Tight consolidation following a good quarterThis penny stock has been consolidating for several weeks following an excellent quarter where the company reported an EPS of 0.54 driven by strong top-line and margin growth. Repetitive performance will warrant a rerating and a strong momentum upwards in the counter.
EMLSimple chart.. prices and SMAs are converging. A definite big move on the ways.. Mark your stops along lower trend line as well as your entries.
have at it !
EML payments possible scenario...Three important things to consider is mentioned in the chart...
ASX:EML
EML - Could see one more leg lower?EML after making a high in late April, it plummeted hard. Since it found support, the recent price action looks like a dead cat bounce. This price action does not give confidence and there could be one more leg down in the cards. It has very strong support at $2.60 level where I have my Buy Zone (between $2.60 and $2.80). I may buy near my Buy Zone after bullish price action confirmation. Lets see how it progresses.
Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
EML - May provide a Buying Opportunity SoonBullish Confirmation Indications
Recent price action has confirmed a reversal by forming a higher highs.
1. Price has formed higher highs
2. It has formed a Golden Cross
3. After forming a Higher High, price failed to continue upwards and is now pulling back
4. This pull back has come down and has entered in the Buy Zone and Fib retracement zone of( 50% - 61.86%) of $3.40 - 3.70
5. There is also a trendline support (confluence) which may also be a bouncing spot at $3.50
6. I will be confident to buy in the $3.40 - $3.70 region (Buy Zone).
Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
(ASX:EML) EML Payments Ltd ASX:EML
EML Payments Limited (EML, formerly Emerchants Limited) are the provider of payment solutions in Australia offering payment technology solutions for payouts, gifts, incentives and rewards, and supplier payments. EML issues mobile, virtual and physical card solutions to some of the corporate brands around the world, and manages more than 1200 programs across North America, Europe and Australia.
Already invested
Cut my loss if stock breach 61.8% Fibonacci Retracement on Weekly Closing basis.
Close watch for next.
Also, sector might face some4 challenges in sector and company focus on gift cards, probably have business impact.
Selling can intensify in coming trading sessions and god only knows where it will stop.
I am long for a while and booking loss. A loss should be treated as a business loss. Never be afraid to expect trade.
EML, shares price is currently trading above up five weeks high.The prediction shares price target around five per cent, to $3.42, or ten per cent at $3.60.
Entry level between $3.10 to $3.25.
Business Summary.
EML Payments Limited (EML, formerly Emerchants Limited) are the provider of payment solutions in Australia offering payment technology solutions for payouts, gifts, incentives and rewards, and supplier payments. EML issues mobile, virtual and physical card solutions to some of the corporate brands around the world, and manages more than 1200 programs across North America, Europe and Australia.
Products/services - Payout Cards:
EML offers flexible prepaid disbursements and funding card programs for gaming payouts, government disbursements, healthcare reimbursements and commission payouts.
Products/services - Incentive and Reward Cards:
EML offers custom loop incentive or reward card which is used to brand loyalty or drive reward dollar spend to selected merchants.
Products/services - Gift Cards:
EML's offers gift cards which are tailored fit and are issued by a bank or e-money institution and processed via a global bankcard network.
Pr ASX:EML oducts/services - Supplier Payment Cards:
EML offers full line of payment services including virtual cards, ACH and eCheck. Virtual cards are issued to suppliers via email, and payments are accepted just like credit/debit cards are accepted.
