see if this worksView Saved Chart:1.64%Volume
vanilla chart for evn - long term - shows the buying volume in july 22. the signal to buy or re-buy
trendline 1 shows $4 is line in sand
volume - july 22 when it broke up and through the hammer level and start of channel up
now at pointy end. will it get through $4 horiz here or not
long term chart takes sting out of short term churn
trendline 2 shows as it emerges from the v shaped hammer and then gets through to new level. lots more pivot points but not much point without wasting time and writing a book on it
now same chart with indicators added
indicators can help but i prefer simple horizontals and volume
the long term chart shows the important doubling from $2 to $4 where it currently deciding on extent of retracement. not a buy here. in fact high risk it retraces. a hold for those of us who bought the break up at 56c in 2015
but for those who brought the break up on volume for $2 in July 22 there has been a handy 100% gain in 2 years. more if you traded it on the way
safe simple reliable trading
if volume comes in now at $4 and price does not rise (as per high at $6.59 in 2020) then a fair sign it is selling volume and time to book profits and wait. chance to rebuy happened in july 22 with buying volume
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Last
2,925.7 |
Change
53.200(1.85%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 2,872.5 | 2,928.4 | 2,872.5 |
| XSO (ASX) Chart |