Energy Development Corp. (PSE:EDC)

Here we go again. After PX, we got AP and then now, EDC.
Once again, these are just my concept. I may change my bias any time of the day. So here it goes.

from traderspizza.com
Boss Silver, i dont know if its a triangle im seeing. we got rsi on hesitation mode. so i guess it is so. the bulls got an edge for today’s closing though.
re wedge, it was an old pattern when edc succumb to 5.71. it was a set up for smart money to accumulate (i guess).
edc got lots of patterns. pattern within a pattern. sym triangle got multiple patters. we just got to identify which pattern is the dominant one para indi ma whipsaw.
my personal take: edc will retest its current high of 6.55 and surpass some pesos more (mid 8 if my concept is right). however, there’s a catch. the ascend could be emotional and may trigger a surge and distort the rsi, thus a divergence, suggesting a top for edc. kabit.will post chart in awhile.

Now here’s the funny part: would you believe this will happen within a month or 2 (max)?
ridiculous?
i accept violent comments 😛

2 comments

  • Mark

    i am holding both this and AP. i believe they are worth the long hold as to other stocks. what is your take on both? TP after a month?

    • hi sir mark, sorry for the late reply, got tied with work. Ap’s bounce was short lived (after the fact) and the indicators were not that encouraging. lots of parabolic stocks were progressing their burst right now and unfortunately, i believe ap is one of them.

Leave a Reply

Your email address will not be published. Required fields are marked *