Kumo break on EMP
EMP continues to move up and close at 11.84 per share today. Current support is at 11.74 while resistance is at 12. Today we have seen a bullish signal via Kumo break but other ichimoku elements are not yet in a bullish setup but a close above 12 tomorrow will create bullish signal from Chikou Span.
Based on Fibonacci Retracement, the fall of EMP to 127.2% Fibonacci Retracement level may result to a bounce up to 12.5x But before we will get nearer to that, it is important to monitor our current support.
Our candlestick today is not giving any hint of bearishness so a greater possibility that EMP will continue to move up.
RSI or Relative Strength Index is at 53
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