Sunday, December 01, 2013


EVC Multiple Timeframes - Cause I was asked my opinion of it. Cause I like the chart.

EVC Monthly - Here we can see the long term support turned resistance near $7. Also is the shorter term support of $5. There's also some resistance @ $9 and $11.

EVC Weekly - A closer look at the action in the past year. Note the increase in volume on the run-up and the volume falling off as the price consolidates between $5 and $7. We're obviously close to a breakout around $7. I'm starting to like this trade setup.

EVC Daily - Here's the last 6 months. We have the resistance @ $7 and support @ $5. Also, in mid October the price paused in the $6ish area. It happened again not too long ago - expect some short term support here. This stock seems to really like pausing at whole numbers. Of course support and resistance are more price areas than definitive numbers.

EVC 10 Min - In the last two weeks, EVC has formed higher lows, which is a bulllish sign. There's resistance at the $6.70 area before the big $7. There's short term support at the rising trendline as well as $6.50, $6.30, and $5.90-$6 area. Keep in mind that shorter term resistance and support is more fragile than the longer term.

EVC 2 Min - Here's the last 2 days. We can see a triangle forming on Thursday which gapped above resistance Friday. Friday morning it retraced to resistance/support and bounced nicely. A flag was formed during the rest of the half-day of trading. Support from both the previous resistance and rising trendline @ $6.55. Resistance @ the descenting trendline, with $6.70 then $7 next. Above that is the big break. 

Yes, I like this setup.

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