EER east energy resources limited
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gap closed & support on 50 day ema at 39.5c

  1. riskninja
    817 Posts.
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    03/05/11
    10:18
    Post #: 8344193
    Down another 10.2% and getting miles away from shorter term MA's. Buying way above or selling way below these is a fools game imo. Reversion to the mean will come into play and thats what we have just seen in terms of the 50 day Exponential Moving Average. The 10 day EMA is just under 55c.

    Buying support should come in around here.

    What we need today is a nice rejection bar. Im also betting allot of those who sold yesterday are waiting to buy back in and recover losses. Just my thoughts.

    GLTA
    EER Price at posting: 39.5¢ Sentiment: Buy Disclosure: Held
    Likes Created with Sketch. 4  Upvote
    lightbulb Created with Sketch.  Great analysis
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