Charting, page-3

As I've already stated I'm not a Chartist, but I do take note of how the technicals are progressing with stocks that I follow from a fundamental perspective. And yes EBR is a relatively illiquid small cap so the charts are open to greater manipulation compared with say an ASX200 stock.

In the absence of anyone interested to post on the technicals of EBR I've decided to make comment, supported by using a fairly objective tool which comes courtesy of Bar_chart which provides a standard analysis based on certain moving averages and MACD's.
Importantly I believe it provides an objective analysis of the current momentum of trading in a stock.In the case of EBR you don't need to be blind Freddy to see that current momentum of the chart is to the upside.

I have watched the trading in EBR (relatively) closely (for a stock that does few trades many days). Certainly volume has once again edged up in recent weeks after a lull in early to mid-February, and the price is showing signs of strengthening - IMO there's a fair amount of accumulation going on (I'm also in the final throes of accumulating ).

I post the basic Bar_chart analysis to add more objectivity to my biased view. Seems to me the next big test will be the resistance level at 71 cents which is fast coming in sight.
If we consider the Fundamentals of EBR, and knowing that end of May thereabouts (AGM 23 May) we should have more knowledge on the outcome of the SOLVE trial this trading pattern makes a lot of sense. I can see it continuing, and beyond that 71 cents resistance level in coming weeks.

I also take heart (pun intended) from the fact a director bought (just a few) shares on-market yesterday - surely that's a positive sign as to her confidence in the trial outcome.
I'll try to attach the objective analysis in the next post (for some reason it won't attach to this post).