EHR daily. I decided to download the data and develop my own spreadsheet to calculate the bollies and SMAs which aren't available on my trading platform. I was very interested to note the bullish crossover of the 50sma and the 200sma.
I tip my hat to those that bought over the last few days since that crossover confirmed a long term positive trend.
The technical indicators that I can see are predominantly positive and support an interpretation of a breakout on the upside IMO. I've been doing some reading on Elliott Wave theory and I think it is fair to interpret the rise from the October low to the January high as Wave 1 and the subsequent 61.8% retrace as Wave 2. Of course, there are many ways of interpreting Elliott Waves, so this is just my own view. However, if my interpretation is correct, it is reasonable to expect a longer run on Wave 3. It is also possible that my interpretation of Wave 2 has been incorrectly identified and we are actually seeing a correction in the form of Wave A and B.
From a fundamental point of view, we have good reason to believe that the upcoming announcement will be a cracker, however, the reaction to it might be somewhat tamed by the details of the placement (depending on whether the placement is to a cornerstone investor / JV partner or if it is the usual insto / soph placement).
EHR Price at posting:
2.5¢ Sentiment: LT Buy Disclosure: Held
