Above is the primary linear regression channel from the 88.36c. high 09/03/1992 to the 11.04c. low on 26/05/1998...........highlighting key horizontal support/resistance lines ...and the initial trend line break out relevant to that time frame.
Below is the secondary linear regression channel from the 88.36c. high on 09/03/1992 to the 0.0099c. low on 09/03/2016......highlighting key horizontal support/resistance lines......and the RECENT trend line resistance (@ 38c.) relevant to that time frame.
Consistent closes above the 32.5c. level would be an indication to expect further upside......and a sustained break above trend line resistance at the (secondary) upper lr line would confirm same..........with (interim) target prices of 46c. and 50c.
Just my take......and on the watchlist.
Cheers.
EGL Price at posting:
34.0¢ Sentiment: Hold Disclosure: Not Held
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