Monday, April 19, 2010

EGO - Long Entry Position Charts

This is a Gold miner leader

  • Double Bottom pattern
  • Force Index shows strong price surge supported by volume
  • Goldman Sachs SEC fraud charges caused plunge on Friday 04/16/2010. However, it had quite a nice reversal day today. It opened with a gap down, but reversed it all for a victory for the bulls.
  • Also note that the ADX line has made a nice surge is holding at support - this may be signalling the beginning of the next up leg

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