The technicals on a stock trading like EM2 aren’t that useful most of the time but it’s obvious to Blind Freddy that the 20EMA (I usually use 21 but on I’m the phone today) has acted as resistance for quite some time.
If we’re see the end of this downtrend we’ll need to get above the 20EMA (currently around 8.3) and hold or rise above that level with some volume. Could take some time and it likely won’t be an explosive move as buyers cautiously wait to see if the supply is in fact soaked, but it will happen and it may indicate the seller is done.
EM2 Price at posting:
7.7¢ Sentiment: Buy Disclosure: Held
