Good to see ERM out! and an interested party come in. Hopefully they can clean up the place starting with that crap debt deal, then the board! Seeing TI out on his ass and aeroplane man too would make me happy and i'd be even more happy if KQ got IN or maybe even given the top job. I too had concerns about "cheap gas" too lol but i guess beggars can't be choosers and agree with most points being put down. Hopefully MIN can get this laggard moving!
Also good to see some new posters with excellent posts - I don't know who this Kit guy is but good to have another technical guy here too. Although I think yeh EGO is about to turn or has turned i said before about the gap at 43.5 and how we'd get there but now we have left gaps at 32 and 30 so again we WILL visit that at some point. Also as the chart shows we've hit the down trend line which funnily enough ended up close to the gap. The SS is overbought and although MACD is crossing zero (bullish) hasn't yet and zero usually a resistance so can still turn down from here.
On the hourly chart shows a bullish MACD and SS rising from oversold so i'd expect to go towards 44 again with 40 support short term for now. If we break 44 then i'd say ~50 (even numbers) and where next resistance is and from there that's where i think we could head down to fill the gaps again.
On the weekly chart the SS is rising from oversold and bullish so just by this we have a chance for 50c first and as you can see MACD isi bearish (below zero).
I wouldn't worry too much about visiting 30c again. If i've learn't anything it's that the powers that be will keep you out when the things going up and keep you in when the things going down so this next dip may well be the second 'drive out' (first being that 26.5c low) before the smart money moves in. I can tell you that even I was thinking of selling the lot below 30 as i couldn't stand the rot but i knew the gap at 43.5 - that's what mostly saved me and the fact that the threshold of pain is usually a buying time and not a time to be selling.
