Sunday, December 08, 2013

EVC updated

I wrote about EVC last week here. This is an update.

EVC Daily - Last week I said I liked the chart. Aaannd the chart traded lower. We had a nice bounce off the rising trendline support on Friday.

EVC 15 Min - Here's the downtrend from the past week. Friday morning, it bounced perfectly off the daily chart support. The bounce took it over the descending trendline. It flagged nicely at the high of the day for the afternoon. A break of the descending trendline might have been a nice entry for a good risk/reward trade.

EVC Indicators - Here's something you don't see a lot of from me. Indicators. I find them distracting; however because so many other traders use them, I'm sometimes curious. So... Fridays close was above ALL of the moving averages. Bullish. Stochastics turned up out of oversold territory just as it bounced, giving this setup more credibility.

I don't own EVC. Honestly, I probably would have bought on Friday had I seen the action happening. Keep in mind I have no idea what the future holds.

No comments:

Post a Comment