EVN has been in decline since the middle of 2020. Price fell to a strong line of support (blue dashed line) that has held for some 6 years and looks to be the lower boundary of a large price channel. It then moved up to (not suprisingly) follow the price of gold. The chart of GOLD tells me it may have bottomed but there remains a potential to fall further, but given EVN has moved up from a stong support its chart suggests its price has bottomed. EVN has also closed above a downtrend line for two consecutive weeks which is another buy signal. EVN remains in a technical downtrend so there remains some risk to this trade.

EVN 26Mar21

 

Contact

Robert Norman

Phone: 0428 346 951
Email: robert@sharecharting.com.au

Sorry, this website uses features that your browser doesn’t support. Upgrade to a newer version of Firefox, Chrome, Safari, or Edge and you’ll be all set.