EEG 4.76% 22.0¢ empire energy group limited

I think this overbought right now, it needs a rest. MACD is way...

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    I think this overbought right now, it needs a rest.

    MACD is way high and close to converging (the beginning of a bearish trend)

    RSI has fallen from 75 to 60 (the current trend is dying/running out of steam)

    Stochs is following RSI.

    Money flow index (MFI for short) is also up in the 80's for the whole duration of the uptrend, translation: the price went up too high.

    Volume is up, but price is going down. Not enough soaking- panic -selling is possible in the near future if new holders are retailers.

    Current support 3.3, but if that gets pierced, you'll be looking at it dropping to the previous resistance/ new 2nd tier support at 2.3.

    Pictures supplied for visual learners. EEG.png

    I also had a quick look at a 15 minute scan and the 50,150 & 200 day SMA are above the current shareprice. All in all, doesn't look good. This one is a watcher though.
 
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