EOL Big Cup + Handle with Solid Break-outHi TViewers,
Here we can see EOL formed a big cup and handle over the past 10 years. I'm no specialist in patterns but there are a few we should know. To me, the cup and handle is one of the bigger and more consistent patterns we see.
Apart from the cup and handle we see a good trend in play here. With all of our SMA's pointing in the right direction and in the right order (smallest time-frame should always be above longer time-frames to confirm an up trend).
Our recent move of 5.88% brought in some really good volume. Which to me indicates it's a serious move and will hopefully continue in the direction we want.
From a brief look into the fundamentals the rumour is EOL is a good bet during economic downturns but we will see if that plays out the way we want, if it comes to that.
Disclosing I am long on this. But please DYOR and remember this is not financial advise, it is purely for your educational interests.
Never invest more than you can afford to lose.
Good luck out there,
John
