I feel the fundamentals have been discussed in great detail ? the only concerns being the optimism built into any valuations, but I think the collective consensus is that of significantly undervalued so I thought I?d do a little riskninja style tech analysis of EER. :)
Technically EER is looking great imo.
I have a nice rejection candle yesterday respecting the 10 day MA.
The MACD is decelerating its downward move and the signal line is some way off crossing down and miles above the 0 line.
The upper Bolly band is at 75c which to me is an obvious target in the very short term.
There has been 5 odd days consolidation which was needed as it was hugging the upper bolly for most of that sensational run.
Consolidation always precedes a break either up or down but imho this will be up. (See fundamental
A pennant has formed, which typically signals a continuation of the trend. The target for this is approx 95c depending on the ?flagpole? defined. It is a ?healthy? sign (http://www.investopedia.com/terms/p/pennant.asp)
RSI is still a little overbought but that is to be expected in strong bull moves without any serious sell downs as we have seen with EER.
Slow Stoich has come off the boil a bit too and that has some upside to move too.
Final emotional exhaustion / capitulation could well have occurred yesterday.
Fundamentally obviously we have discussed how undervalued EER is relative to its peers, so the upside / downside ratio is stacked in favour of a rise.
And the best for last JORC data is due by the end of April.
Based on this I personally rate EER as a Sector Outperform / Strong Buy (if you didn?t gather that already!?)
DYOR
Cheers
- Forums
- ASX - By Stock
- EER
- tech spin big grin
tech spin big grin
-
- There are more pages in this discussion • 16 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add EER (ASX) to my watchlist
Currently unlisted public company.
The Watchlist
I88
INFINI RESOURCES LIMITED
Charles Armstrong, CEO
Charles Armstrong
CEO
SPONSORED BY The Market Online