EVER has been rallying since early this month and has been trading above its key short- and long-term moving averages since mid-May. The stock’s bullish trajectory has propelled the RSI deep into the overbought territories, with no signs of slowing down in the near term. The DMIs and MACD also have strong bullish signals and increasing momentum. At EVER’s current levels, the stock tapped an all-time high of 0.70 intra-day before settling a few ticks lower. The stock’s rally would likely persist over the next couple of days, judging from the increasing buying momentum. However, we would caution that some investors might be prompted to secure some of their gains.
Sell on rallies
Weekly target: 0.7000
Support: 0.6000 / 0.5285
Material in this article is obtained from sources we believe to be reliable, but its reliability or precision cannot be guaranteed. This is for the sole purpose of providing details and does not provide an offer from us to buy or sell securities mentioned in this document.