I haven't had a look at EZE since August last year when EZE proposed a scrip purchase of an friends business which subsequently did not proceed so I am a little out of date with developments.
At the time cash and a lack of it seemed to be a major problem if I remember correctly.
You are correct that EZE has come off a low and is trading well technically.
That low was almost a 100% retracement to 4c set in September 2001 after it had sat around 10c in August last year. I heard rumours at the time that it had had some 'help' to maintain that price persuent to previously mentioned deal and a capital raising. Of course this only rumour and I cannot prove it.
EZE has since recovered albeit on incredibly low vol's to that 10c level again, in fact trading through it which is a good sign.
All through this period of EZE trading from 20c to 4c the accumulation/distribution ratio has stayed flat. Interesting. Wonder if the trades are genuine third party.
A word of warning...EZE has been showing overbought on MACD since 8c so if I were a punter (which I am) I would be a seller at these levels and not a buyer.
As always all of the above is my (completely uninformed) opinion.
Cheers,
EZE Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
