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Monday, July 25, 2016 11:37:48 AM
EGO Charts The 5 year high $21
In this five-year weekly chart of EGO, above, we don't see a three-year base pattern, but we do see that EGO broke its downtrend from its 2011 peak. The longer a trend is in force, the more important it becomes -- and when a long-term trend is broken, we should pay more attention to it.
EGO is now above its rising, 40-week moving average line. The weekly OBV line shows an uptick and a subsequent decline, recently. We expect to see EGO continue its rally and we would want to see the rally confirmed by a strongly rising OBV line, telling us that buyers have been accumulating more shares in the weeks when EGO has closed higher. There is a fair amount of chart resistance above $5 from 2014, and EGO will have to absorb that on its climb higher.
Note 1: Please alert the board of any stock crossing the 20,50,20dma’s on daily or weekly chart.
(link back for more charts)
Just replace the ticker with your TICKER
http://stockcharts.com/h-sc/ui?s=EGO&p=D&yr=0&mn=3&dy=0&id=p11960084343
In this five-year weekly chart of EGO, above, we don't see a three-year base pattern, but we do see that EGO broke its downtrend from its 2011 peak. The longer a trend is in force, the more important it becomes -- and when a long-term trend is broken, we should pay more attention to it.
EGO is now above its rising, 40-week moving average line. The weekly OBV line shows an uptick and a subsequent decline, recently. We expect to see EGO continue its rally and we would want to see the rally confirmed by a strongly rising OBV line, telling us that buyers have been accumulating more shares in the weeks when EGO has closed higher. There is a fair amount of chart resistance above $5 from 2014, and EGO will have to absorb that on its climb higher.
Note 1: Please alert the board of any stock crossing the 20,50,20dma’s on daily or weekly chart.
(link back for more charts)
Just replace the ticker with your TICKER
http://stockcharts.com/h-sc/ui?s=EGO&p=D&yr=0&mn=3&dy=0&id=p11960084343
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