Price and volume performance was indeed encouraging on Friday, and to date has managed to maintain it fairly well.
4.8 cents is an interesting point to watch.
On a Weekly chart I would have 4.8 as the breakout of the downtrend line reaching back to the Nov 2007 high of 21.2 cents.
Between 4.8 and 5.1 is also of interest on the Daily chart.
MACD is looking encouraging although yet to give a buy signal. (Weekly)
Directional Indicators also looking at a potential of a buy signal. (Weekly)
Volume has steadily increased from the March 2009 low of 3 cents. (Weekly)
That all said and done ---- I realize the technicals are irrelevant if not followed up with the finalization of the funding and the resultant certainty of development.
But at least it is looking better.
The current weakness of Gold price not a big help --- and it would appear the consistent seller is still active.
Patiently we wait.
cy7
EVG Price at posting:
5.0¢ Sentiment: None Disclosure: Held
