Friday, January 20, 2012 5:07:16 PM
Things have moved quite fast on EVPH. We had a close today above the 50 day moving average, which is a bullish sign but does not necessarily trigger a breakout signal just yet.
If we get a Monday or Tuesday close above the high of today's candle, that will for me trigger a breakout signal. However, I'm leaning more towards a little bit of a pullback to the 20 day moving average area to let this thing bake some more before a strong upward move. That is the safer bet.
Once the breakout does trigger, the first target is .00644 which is the 200 day moving average and the prior high pivot for the stock. The second target is a penny which is another high pivot from last year plus a round number.
If we get closes below the 20 DMA it will negate the chances of a breakout, but for now I would put the odds at 75%.
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