EMV continues to demonstrate the lack of selling pressure post panic selling given macro global economic events. Hitting bottom of 40c some lucky punters picked a superb bottom and have since watched the price healthily appreciate through 2 continuation patterns.
EMV's cash backing and potential for winning a undiluted funding through 2nd stage Medical Research Future Fund grant, de-risks the need for possible capital raising in the near term. The strong fundamentals in conjunction to the partially completed pilot clinical trials which are due to have their results released soon could have some serious blue sky positive movement in the near term.
EMV has seen 3 notable (among many) positive indicators. a
12/20 SMA golden cross took place on the 6th of April which also saw a large uptick that broke through the
50% Fibonacci retracement, promptly followed by a 3 day consolidation before continuing into another more powerful golden cross (
12/200sma).
Anyone watching the depth closely and the course of sales will note the way the buying has taken place has shown there is some(many?) on the sidelines whom are keen on more shares and obviously sellers are no longer abundant in these ranges, which leads me to wonder where the next supply zone range will be.
I can say for certain that EMV's blue sky potential leaves it in a very select few stocks on the ASX whom I believe will perform well regardless of the macro economic conditions.
https://www.tradingview.com/chart/E...rend-reversal-followed-by-significant-demand/
