EOH trade ideas
JSE:EOH | Price breaks 1690, targets 1025After consolidating for seven days just above the 1690 mark, price finally broke through yesterday, closing well below that level.
I like EOH for a short down to 1430 and then 1025.
$JSEEOH For the speculators among usThis share is starting to form what looks like a channel between 1830 & 2500. A possible buy could be attempted at the 1830 levels, but be warned. This share is in limbo after the recent news of corruption within this company and the spate of director resignations. As is the case with Pinnacle, now called Alivia. This could haunt them for a while. In the meantime most of the bad news could be discounted into the share price. Time will tell.
When a management with a reputation for brilliance tackles a business with a reputation for bad economics, it is the reputation of the business that remains intact" - Warren Buffett
$JSEEOH - Support around 18.30#EOH has seemingly found some support around 18.30. Should continue to coil from here.
EOH - Playing the bandEOH is running in the band as indicated.
Good short term trade opportunity
Support - R18.35 - Enter near this point
Resistance - R21.60 - Exit near this point.
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.
EOH HOLDINGS LTDEOH H4 (240 Minute) Timeframe
Reasons For Entry :
- RSI DIVERGENCE
- QUASIMODO TARGET
- ENDING DIAGONAL
Everything Good Yearns Patience And Time
Disclaimer: Trading stocks, commodities, futures and forex has a level of risk and may not be suitable for all investors.
EOH - Bearish but broke resistanceEOH had a great run the last 2 days.
Looking at the above chart it broke through resistance line like a rocket - now new support if tested.
Still in bearish band.
New resistance at R27.00 to R28-00
Breaking through new resistance may indicate a Bulls breakout
$JSEEOH Rocket ship for the cowboysA test of R20 is possible on this share. Miss priced and now correcting. An opportunity for cowboys only. Extreme volatility, but maybe worth a punt. Stick to stop losses.
EOH HOLDINGS : JSEHere we have a bullish flag unfolding, at the breakout off its resistance we can jump in with the buyers to the target around the 3507 area.
EOH 13 RRR shortTrading Methodology:
1. An asymmetric bullish/bearish pennant is drawn using ascending and descending curved trend lines with a minimum of three price action touche points per line. The direction is determined by the previous trend.
2. The angle tool is applied from the earliest two trend touch points, beginning at the earliest touch point.
3. A trend-based Fibonacci retracement triangle is drawn starting from the earliest trend touch point and ending at the earliest touch point of the opposite trend line .
4. Based on the degree, of the earlier defined angle, the appropriate (and secret) levels are selected for the fibonacci retracement ; two levels for stop-loss and two levels for take-profit. The closest stop-loss level to the current price level is the top priority stop-loss. Though the secondary stop-loss level is often chosen for some markets such as FX and some equities in order to account for seldom unexpected resistance breaks. The greater target level is the top priority, and where majority of the shares are sold, though some may choose to close part of the position at the first target level or set it to be the stop-loss once price exceeds it. Entries should be laddered in around the levels closest of the yellow line.
This trading strategy can be applied to any market and time frame, and positions most often garner the greatest risk-to-reward ratio with the highest success rate. What more can you ask for? I will only be posting my unique trading strategy until EOY. I work solely with price action to identify pennants and apply unique trend-based fibonacci retracement levels for SL and TP levels. Reach out to me if you have any questions.
