EOH recoveryJSE:EOH staging a potential Stage 2 movement. Fundamentally, EOH reported negative EPS. So, a buy idea is based solely on technical analysis.
EOH
EOH time to finally shine like the Penny it is to R1.93Falling Flag has formed over the last three months on EOH.
It's been moving in a somwehat consolidation period not with hardly any convincing downside and supply.
So now that that the price has broken above th Flag and is showing strong upward momentum, means that it's more likely for the price to rally up.
High probability analysis
Price>20 and 200
Flag pole - Up - CHECK
TArget 1 will be up to R1.93
JSE:EOH - Potential complete pullbackJSE:EOH looks to have completed its pullback from its previous move up. Price rejected the 61.8% Fib retracement level and has bounced off the intersection of previous trendlines confluenced with the 50% retracement level. Should this be the start of the next move up, a potential target could be the measured move of the previous leg up bringing a target of 960 - 970. The break of the 770 resistance will add to the momentum pointing higher.
*Disclaimer* Purely an analysis and opinion, this does not constitute financial advice.
38,2 FIB RETRACEMENT MIGHT BE ON THE CARDS FOR EOHFIB 38,2 Retracement in line with 100MA - R6.50 on the cards, be on the look-out for this. I wont buy at current levels as too much volatility, but should it reach 38,2, then yes count me I'm in! Position from now till December/Short.
EOH - Resistance R 5,20 (Long)EOH has made a significant pullback since its massive 3 day rally back in June. It's gone sideways for almost 2 weeks now with R5,20 been the level of resistance. A close above R5,20 would trigger a long with R6 been first target.
JSE:EOH EOH Holdings: Are Things Changing?EOH has been weak but we have seen a wedge forming as price pushed lower. With some kind of base forming, we have seen the wedge break to the upside on volume. Testing R3 volume has increased. The recent pullback has been on declining volume and we are now seeing a significant bar and looking for the further push higher.
EOH trading plan 18/06/2020EOH still showering similar patterns in the horizontal trend. Very strong opens and retracing during the day. It’s fair to expect another strong open in either direction. If we get a positive open, will implement a partial exit in the R 6,60 - R 6,70 zone anticipating further drop to around R 6,40 or less. This will reduce our risk exposure and give us an opportunity to buy back in should a drop in share price occur the day after. If we open at a drop in share price, we have a buy in opportunity at the R 5,40 to R5,60 zone. If share price recovers during the day we can recover pieces of profit lost during last weeks drop from R 7.00.
EOH analysis 11/06/2020 -12/06/2020Very positive start to the day as anticipated in my last analysis, and again the usual cool off we have seen this past week repeating itself. Modestly expecting to close off the day at around R 6,90 to R 7,01 and my worst case scenario at around R 6,41, opening up a good opportunity for late comers to buy in and possibly catch the morning wave. Haven’t seen EOH introduce big leaps this late during the day.
Hopefully at open tomorrow we can see the pattern repeating itself again and leaping 20% at open, and if so, we can expect another cool off in the afternoon. Considering how far up the share price has to go, this could potentially still be a big money maker.
EOH Trading Plan for 11/06/2020EOH has been on an extremely positive run after it was announced they paid off a large portion of their debt two months in advance. If the past two days are our reference, we may see another sharp increase in the morning and perhaps a slow down around R 7,60 after breaking an unconfirmed R 7,01 resistance. Hopefully a slowdown around R 7,20.
If market is not so welcoming, we could see a drop to R 5,20 support line and will probably settle or rebound. This could be a perfect entry point for late arrivals. Lowest entry point R 3,17.
EOH HOLDINGS LTDEOH tested a major level from 2007 at R10 and held. We could find an entry on the next test around R14 level, trading a higher low setup. This could potentially turn into a long term hold past current levels to test. Just have to watch the price at those levels and decide when we get there.
Not financial advice, manage risk! Take care.
