EMP registered two bullish signals from Ichimoku elements

Daily chart of EMP registered a bullish signal by way of Kumo breakout and Tenkan Sen / Kijun Sen Cross. This development is a good indicator for EMP which may soon rally for new high. But before that, we are facing with a resistance at 23.6% Fibonacci Retracement level. The break from the upward channel may just be brought by some panic buying on some traders but it is not so convincing but this is not a bad news. In fact it is good news because if it will retrace, we can add more shares. If no retrace will happen then next stop is 12 then 12.50… then 13.44?

But then again, drink moderately.

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.

One Response to EMP registered two bullish signals from Ichimoku elements

  1. […] the same channel we put last January 19 when we saw EMP registered two bullish signals from Ichimoku elements, EMP has retraced and may find support somewhere near the lower slope up to where 38.2% Fibonacci […]

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