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.
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)?
i accept violent comments 😛