Anyone know why Eiffel seems to have broken out? This morning's rise and good volume on top of last week's gains appear to bode well for a strong break beyond 0.15c. I still think a period of consolidation around 0.13 - .135 would help ensure a longer run when the stock does get a gallop on. Hard to tell yet whether that's the case. Currently bids at 0.145c but bound to be some profit taking if this continues.
According to Cath Davey on Investorweb, the recent close above 0.12c confirmed a strong bottoming pattern and given the history of well-tested lows and the all time high of 42.5c in Mar. 2000 she believes it could go to .24c and beyond. Whether that is possible without news of a major deal or increased confirmed revenue stream is moot.
Anyone else watching? I hold.
Gupper
EIF
eiffel technologies limited
