EW, Stock Analysis 
2 Comments Bulls about to take charge on EW
Looking at the daily chart of EW we could see a Gravestone Doji formation. Is this the start of a bullish continuation run for EW after the headwind? For the past few days of going down, EW may bounce and reach the resistance (upper slope) soon and with some strength mustered these past few days, it might be very easy for the bulls to break it. If the break will fail and price will return to the support, we have the relatively strong support around 29.5 which was tested before.
Gravestone Doji is a pattern formed by a red candlestick and a Doji with no lower shadow. The market is in a downtrend which means bears are in control while bulls are hiding. Then on the last day we see bulls fighting against the bears and while bulls are winning, the bears were able to take control but with so many bears injured during the battle, the bulls can now take advantage of the situation.
If the price tomorrow will gap up then there is a big chance bulls will be able to bring the price to a new level.
Caveat!
