EMP at the support line forming a Hammer

EMP has touched the support level today as we see on our chart. EMP has been moving within the upward channel it created for few months now. Today’s price movement resulted to a Hammer candlestick which is a reversal pattern. If this will be confirmed via a large green candlestick tomorrow then we might see EMP to rise to the resistance level just like what it did last time.

RSI or Relative Strength Index has already been dropping since the start of the correction and is not at 40 level. Are the bulls ready to bring the price up?

Caveat!

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felix

A computer engineer by profession and loves to develop online systems/websites. A self-taught stock trader who loves to share his knowledge and enjoys learning, expanding knowledge and staying well-informed. Most often he uses candlesticks, Fibonacci Retracement levels, Ichimoku system on his technical analysis but loves to hear some rumors as well.

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