Long
ECA Flag into Continuation Uptrend
Since May of 2016 the 50d and 100d MA's have been significant support levels and now price is consolidating between those two levels seeing support at the 50d and resistance at the 100d a break of either of those is significant, the preceding trend is upward so it is assumed that it is in an uptrend still until proven guilty which is why this could be a nice entry. Price action is forming a bullish flag that looks close to breaking out after a sharp rally. Momentum is consolidating along with price. I have a Price Target of 13.00 which comes from the previous top and a stop loss at 11.50 which is 7 cents below the 50d MA support.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.