ELLIES HOLDINGS LTDShort
Ellies Bearish
Ellies is not looking good. It's been a strong downtrend since 6 Dec 2021 from 46c down to its current 16 cents...
There are two ways this can play. Either, they sort out their issues and buyers start piling in which will break above 18 cents to go to a target of 26 cents.
Or the sellers continue which plummets the share down to 8cents.
The truth is the charts are showing downside. Descending Triangle, Moving averages all down, Price broken below the Support line. So I'm going to have to say Bearish, sorry.
Thank you for the suggestion. Any other markets you'd like analysed?
There are two ways this can play. Either, they sort out their issues and buyers start piling in which will break above 18 cents to go to a target of 26 cents.
Or the sellers continue which plummets the share down to 8cents.
The truth is the charts are showing downside. Descending Triangle, Moving averages all down, Price broken below the Support line. So I'm going to have to say Bearish, sorry.
Thank you for the suggestion. Any other markets you'd like analysed?
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Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
facebook.com/groups/matitrader
🌐Website:
timonandmati.com
𝕏 (Formerly Twitter):
twitter.com/timonr
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
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