Let's see some history relative timing ( RT ) values by VectorVest: :
16-Apr = 0.95
13-Apr = 0.98
12-Apr = 1.09
11-Apr = 1.10
10-Apr = 1.09
EHL.AX has a current Value of $0.04 per share, which is overvalued compared to its Price of $0.27 per share. Value is computed from forecasted per share, forecasted growth, profitability, interest, and rates.
As the relative timing ( RT ) was declining in the last 5 days, it is a bad sign for a longer run.
Let’s have a look on the technical analysis:
Firstly, we have a "Head and Shoulders" chart pattern formed on Emeco Holdings Ltd.
The price seems to have reached the end of a period of "distribution" at the top of a major uptrend; the break down through support signals a reversal to a new downtrend.
The Top is created by three successive rallies in the price following a significant uptrend. The highest high (head) is in the middle, flanked by two lower highs (shoulders) at roughly the same level. is highest as the price makes the first two rallies, then diminishes through the right shoulder. Finally surges as the price closes below the neckline (drawn between the two lows) to confirm the reversal.
Support & Resistance:
plays a key role telling us that the major resistance (Kijun-sen) is 0.295 and a very strong formed by the 26 periods projected green cloud at 0.2775. Because of chin-kou span is below the , a downward pressure is confirmed.
There are two lands for EHL. ASX to sink
1) Support (0.255)
2) Projected Head to Neck price range (near 0.22)
land means possible reversal. Comments as mark ups on graph below.