EMP showing some bullish sign. Buy moderately

EMP reached the Kijun Sen line last Wednesday and relaxed for two days in a row showing two Doji candlesticks. This is a healty correction since RSI on daily chart is already at the overbought level. We might see some more selling pressure but I think the 10.77 is now our support. This is where our 50% Fibonacci Retracement level and Kijun Sen line based on weekly chart. It has been observed that this line act as resistance two weeks ago and the recent week broke it thus making it our newly found support. Current resistance is at 11.18

Caveat!

One Response to EMP showing some bullish sign. Buy moderately

  1. […] time we saw some bullish sign on EMP it was when it close the week at 11 per share forming an Engulfing pattern on weekly chart. Price […]

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