EOS Daily Analysis: Breakout continuation
Nouvive stated yesterday that EOS is in the process of breaking out; today we follow up on the best exit & entry levels.
What do the charts show?
- The higher time frames indicators all show on that EOS is gearing up to breakout of its current positioning.
- This comes as since finding its temporary bottom over the weekend, it has made successive Higher Highs, Higher lows on the 1D Chart.
- RSI Stochastic on the 1D Chart illustrates that we could go as far as $2.17 following a breakout of the pennant triangle or at the minimum $2.10
- MACD and Nouvive’s ViFeed indicator has flashed BUY on the current time frames.
- Market sentiment and Accumulation has increased by 3% day on day.
- A break of $2 could see a 9% fall over the course of the following days, leading up to the weekend as EOS tries to find a Bottom.
- The reversal following the finding of a local high or resistance at $2.17 with a negative patterns being illustrated is a cause of concern.
Nouvive Says: EOS is in the process of breakout to fill the volume gap at $2.05; all of the Moving Averages are in the process of crossing over making $2.17 more than likely over the course of the week.
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