EDEN.N Daily Chart
This chart and analysis are not financial advice. Do your own research before trading or investing.
Bullish Observations:
Strong Price Surge: Recently, the price has surged to 14.5 LKR, up by +7.41%, indicating strong buying momentum. This price action broke above the 13.30-13.70 resistance (marked as S: 13.30-13.70), a bullish signal.
Golden Cross: We see the short-term moving averages (yellow and purple lines, likely 50-day and 100-day MAs) crossing above the longer-term blue moving average (probably the 200-day MA). This is often a "golden cross," signaling the start of a new uptrend.
Volume Spike: The large spike in volume recently indicates that the price movement has strong support from the market. High volume on a price rise is generally a positive signal, suggesting strong interest from buyers.
RSI Bullish Divergence: The RSI indicator has a bullish divergence. While the price was previously making lower lows, the RSI was making higher lows. This divergence often signals a potential trend reversal, which has already started to show up with the current price rise.
Fibonacci Levels: The price has broken above several key Fibonacci retracement levels (23.6%, 38.2%, and 50%), which adds to the bullish sentiment. If it continues, the next target could be 14.20-14.60 (the next resistance), followed by 15.20-15.50 at the 1.0 Fib extension.
Trendline Break: The stock has broken above a key downward trendline (TL #1), which indicates that the bearish pressure is subsiding, and a possible new uptrend is forming.
Potential Risks:
Overbought RSI: The RSI is nearing the overbought zone (currently at 78.84). An RSI above 70 can sometimes suggest the asset is overbought and may face a pullback or consolidation soon before continuing higher.
Resistance Ahead: The price faces significant resistance in the 14.20-14.60 zone. If the stock fails to break this level, it could trigger some profit-taking and lead to a minor pullback towards the support zone of 12.40-12.60.
False Breakout Risk: The recent breakout above the downtrend and Fibonacci levels needs sustained volume and buying pressure to confirm its strength. If the volume weakens, there’s a risk of a false breakout and the price returning to previous levels.
Bullish Observations:
Strong Price Surge: Recently, the price has surged to 14.5 LKR, up by +7.41%, indicating strong buying momentum. This price action broke above the 13.30-13.70 resistance (marked as S: 13.30-13.70), a bullish signal.
Golden Cross: We see the short-term moving averages (yellow and purple lines, likely 50-day and 100-day MAs) crossing above the longer-term blue moving average (probably the 200-day MA). This is often a "golden cross," signaling the start of a new uptrend.
Volume Spike: The large spike in volume recently indicates that the price movement has strong support from the market. High volume on a price rise is generally a positive signal, suggesting strong interest from buyers.
RSI Bullish Divergence: The RSI indicator has a bullish divergence. While the price was previously making lower lows, the RSI was making higher lows. This divergence often signals a potential trend reversal, which has already started to show up with the current price rise.
Fibonacci Levels: The price has broken above several key Fibonacci retracement levels (23.6%, 38.2%, and 50%), which adds to the bullish sentiment. If it continues, the next target could be 14.20-14.60 (the next resistance), followed by 15.20-15.50 at the 1.0 Fib extension.
Trendline Break: The stock has broken above a key downward trendline (TL #1), which indicates that the bearish pressure is subsiding, and a possible new uptrend is forming.
Potential Risks:
Overbought RSI: The RSI is nearing the overbought zone (currently at 78.84). An RSI above 70 can sometimes suggest the asset is overbought and may face a pullback or consolidation soon before continuing higher.
Resistance Ahead: The price faces significant resistance in the 14.20-14.60 zone. If the stock fails to break this level, it could trigger some profit-taking and lead to a minor pullback towards the support zone of 12.40-12.60.
False Breakout Risk: The recent breakout above the downtrend and Fibonacci levels needs sustained volume and buying pressure to confirm its strength. If the volume weakens, there’s a risk of a false breakout and the price returning to previous levels.
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.