EOS has started this year in a bullish mood. Currently, it's pulling back but there are many reasons to anticipate another move higher. Price has tested the 0.618 retracement relative to the most recent impulse leg and we can also see a bullish pennant pattern.
What we are looking for is a break and close above the resistance line. The shorter-term uptrend line is soon catching up! Possible targets can be seen on the chart itself.
Thanks and good luck!
What we are looking for is a break and close above the resistance line. The shorter-term uptrend line is soon catching up! Possible targets can be seen on the chart itself.
Thanks and good luck!
Comment:
OK, so we have successfully moved above the resistance. It's good to see that the uptrend line is clearly acting as support. The negative is that I would have liked to see more volume but that will clearly increase once we pass the old highs near Target 1. It's rising though and that's good. Let's wait and see!
Trade closed: target reached:
Target 1 reached! Some nice volume as well. Let's see if we can get to $12 and maybe beyond.