Though I might expand a little on this and why this stock excites me so much from a TA perspective. In Mark Minervini's first book, in the chapter "follow the leaders" he shows several examples of stocks that started forming up trends during bear markets that went on to become big market leaders. Basically in the last stages of the bear market while the index was still making lower highs and lower lows, a few stocks began making higher lows and higher highs.
Compare EMR to the gold price and we have exactly that, a stock that has broken out to new all time highs while the gold price was still making lower highs and lower lows. In fact even in this current base on EMR, the low of it was formed some 2 weeks before the last low in gold. Everything about the TA here says this is likely to be a major leader in the gold sector imo.
The lines on the charts below are the same dates and line up with the lows and highs in the gold price
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EMR - chart thread, page-3
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Last
$3.83 |
Change
0.020(0.52%) |
Mkt cap ! $2.514B |
Open | High | Low | Value | Volume |
$3.83 | $3.86 | $3.78 | $2.874M | 751.7K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 3309 | $3.81 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$3.83 | 4242 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 3309 | 3.810 |
12 | 93246 | 3.800 |
2 | 11799 | 3.790 |
7 | 35294 | 3.780 |
2 | 1385 | 3.770 |
Price($) | Vol. | No. |
---|---|---|
3.830 | 4242 | 2 |
3.840 | 10674 | 1 |
3.850 | 11799 | 2 |
3.860 | 11125 | 2 |
3.870 | 1113 | 1 |
Last trade - 16.10pm 11/09/2024 (20 minute delay) ? |
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EMR (ASX) Chart |