EHL Chart, page-3

Hi Nathan

No one has a crystral ball on what will happen to EHL next. Charts can help show where previous selling pressure (Resistance / supply) has been and buying Support comes in.

I focus mostly Wkly charts as it reduces the noise often seen on daily and intra-day charts.

On the EHL wkly chart I put up, 26.5 cents has been an area EHL shareprice usually hits (or goes slightly above), before selling pressure pushes it back down again. Likewise, the trending Support line, has been a point where the price goes to and buyers have steped in to push it higher again.

Generally the more points on a Resistance/Support line and the more horizontal that line is, the more significant it is, if price pushes through it.

As EHL is currently 27.5c, this is quite positive (above 26.5c Resistance). Ideally 26.5c region needs to act as a new Support line now (where buyers step in to keep price above this level).

Hope this makes a bit more sense. If you click on my HC name (or twitter handle) you can see other charts to see what can happen when long-term Resistance or Support lines break and new trends form.