Hi Money, I am not a chartist or TA person but I reckon 50 - 60 cents is a mind Game thing. So many people have 50 - 60 cents in their mind - once it Hits 50 - 60 cents I will off load some EWC. Nothing more nothing less. So up they ring their brokers and tell them to sell some. There are then More at the exit gates than new demand so your friendly broker Convinces you whats a few cents, sell anyway and so down the Price goes. Brokers make money churning. They couldn't give a Stuff about the fundamentals of EWC. The price goes down until some smart New thinking comes in thinks 47 is too low, lets buy some and up Goes the price. EWC needs new bits of news consistently to make Your average punter think, no don't sell at 55 or 60 this time round It's going higher. Mind games. EWC has hit so many of us for so long We are a bit battle weary and so hit the sell button at the rise of a few cents. Our time Will come bit by bit until every EWC holder is a EWC keeper. Demand will eventually outstrip selling when consistently good news Flows through. It will come.
EWC Price at posting:
48.5¢ Sentiment: LT Buy Disclosure: Held