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Pennystock EHL.ASX

ASX:EHL   EMECO HOLDINGS LIMITED
Aussie Market did 145 Buys out of 2035 Aussie stocks.

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 earnings per share, forecasted earnings growth, profitability, interest, and inflation 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 Head and Shoulders 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. Volume is highest as the price makes the first two rallies, then diminishes through the right shoulder. Finally volume surges as the price closes below the neckline (drawn between the two lows) to confirm the reversal.

Support & Resistance:
Ichimoku plays a key role telling us that the major resistance (Kijun-sen) is 0.295 and a very strong support level formed by the 26 periods projected green cloud at 0.2775. Because of chin-kou span is below the candlesticks , a downward pressure is confirmed.
There are two lands for EHL. ASX to sink
1) Support trend line (0.255)
2) Projected Head to Neck price range (near 0.22)
PLEASE tell me what land means. on chart.now are you saying it is going south or north..my chart saids long turn around last candle. waiting for more conformation. ta....
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cal268 miltonmoney
@miltonmoney,

land means possible reversal. Comments as mark ups on graph below.

https://www.tradingview.com/chart/GAvbh4KI/
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cal268 cal268
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