I sold most of my holding at 5.95 after the outside reversal day and was looking for at least the closure of the gap before I re-enter.
Well, it closed the gap already this morning. The question now is where to re-enter?
The top of the previous high is 5.36 and the 50% retracement of the move from 4.70 to 6.20 is 5.45. Retracement to the key
fibonacci level of 61.8% is 5.27.
Any TA followers out there who may have a view?
I tend to eliminate a retracement into the 4.70's because the overall gold market is so bullish and EVN is one of the current gold market darlings.
I could be wrong of course but at least I can get back in under 5.95 without losing any of EVN's outstanding potential.
Cheers
EVN chart, page-464
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Last
$4.32 |
Change
0.280(6.93%) |
Mkt cap ! $8.593B | |||
| Open | High | Low | Value | Volume |
| $4.30 | $4.38 | $4.25 | $58.48M | 13.52M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 4125 | $4.32 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $4.33 | 7000 | 1 |
View Market Depth
| Last trade - 16.10pm 13/09/2024 (20 minute delay) ? |
| EVN (ASX) Chart |