Strong support and resistance over last several months. This is a is surredely a pivitol moment for the stock. Earning were above expectation so I'm leaning on a long position upon MACD signal or strong rebound. A stop just below 167 since it's never reached lower previously. Risk reward 3.8.
Watch for any indication that this stock is going to rebound off the support, to where it has been hitting before. If it does this, I expect 5% - 6% over a period of a month.
4 hits on the top, this indicates a strong restance line. It just hit this line again so if may lead to it falling to the bottom support line which would be about 30% over about a month.
It should be interesting to see what happens in this situation with NHI. Will it rebound or break? Preparing to set some limit buys just below the lower support line in case it breaks, others, the rebound would be about 5%.
We want to look to see if it breaches the first and second resistance lines in the next month. If so, it could be a good opportunity to capitalize on the great volitity of EGAN.
Strong support lines, should increase past the support. Shouldn't break the bottom. Prediction 10% - 15% over the next 18 - 22 days. Target = 26.40 - 26.60
Keep watch for doji candles, reversal signals, etc, in case this decides to flip. Expectation 15% over next 15 - 25 days.
All the indications seem to be there. Long position would make the most sense for about 7% expected return over the next three weeks.
The support line has been reached numerous times and not broke. Watch for turn around indication and be ready to buy at indicated support.
If this stock follows the channel it's in, it should increase by 25% over the next month.