EOLS presents a unique setup. I was ready to go long before I saw that the pattern doesn't look to have finished. The pattern highlighted would give EOLS potential double bottom then Fibonacci extension towards end of year. I like what they are doing but it seems to early imo.
Tried keeping chart simple so everyone can see the pattern ;)
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Disclosure: I do not own EOLS. This is an educational analysis, not a note to but or sell. Please do your homework before investing.
- If EOLS closes above $17-> $18 ->$19, I would re-asses my stand.
- Otherwise following trend, EOLS would start failing to breakout at current levels and the pullback to $10 level would commence.
- $10 is also a potential double bottom which makes sense
- Using fib extension tool, 1.618 extension would also meet long-term resistance
Tried keeping chart simple so everyone can see the pattern ;)
Like and follow so I can continue finding trades and charting.
Follow me on Instagram or Twitter @VolatilityWatch
Disclosure: I do not own EOLS. This is an educational analysis, not a note to but or sell. Please do your homework before investing.
