Of course there is potential for it to go down based on the...

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bernsta

3,685 Posts.

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23/08/15

16:27

Post #: 15858441
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Originally posted by globe_trader ↑

@bernardp - we need to face the facts here.......the descending triangle pattern is evident so there is the potential for the SP to break down short term.......or it could find a base on this low volume and go the other way.

Just remember some players here just look at TA and that's ok, remember many stocks over the years have broken lower due to TA only to follow up solid FA and move higher.

For me if we look at the bigger picture there is plenty to like about this company. It already has a huge base, revenue 7.4 million for the last half year and been profitable year on year. We also already know they are moving into INTERNATIONAL opportunities as we speak plus growing the business in Aus.

Envirosuite 2.0 was only rolled out last month which means the ball has just started rolling!

If your a short term trader this descending triangle is a concern as to how it plays out.

If your an investor like myself is just about riding the waves, I'm confident in the long term growth strategies that the company has in place and feel in 1-2-3 years from now buying and holding this company will comfortably see large double digit returns year on year.

So my point after all that chatter! Buy, sell or hold depending on your trade time frame, plan and risk strategy.

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Of course there is potential for it to go down based on the chart I couldn't agree more that's why I asked @tradesurfer to put his chart and analysis up - bear in mind the global markets are being corrected so to speak and we held up quite well on Friday being green when the rest of the market tanked.

Like you I'm a longer term investor and not concerned one bit by the TA at present based on my timeframe and based on the FA backing this company.

I look forward to what the coming week brings.

Cheers

Bern

EVS Price at posting: 13.5¢ Sentiment: Buy Disclosure: Held
2 Upvote

0 Great analysis

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(20min delay)
Last 5.1¢		Change 0.000(0.00%)		Mkt cap ! $99.87M

Open	High	Low	Value	Volume
5.0¢	5.1¢	5.0¢	$8.146K	162.5K

Buyers (Bids)

No.	Vol.	Price($)
4	69200	5.0¢

Sellers (Offers)

Price($)	Vol.	No.
5.1¢	77112	1

View Market Depth

No.	Vol.	Price($)
2	31009	0.160
1	74247	0.155
10	742532	0.150
7	544595	0.145
4	319049	0.140

Price($)	Vol.	No.
0.165	126720	2
0.170	625000	3
0.175	120000	1
0.180	68832	2
0.185	140908	2

Last trade - 13.52pm 28/11/2024 (20 minute delay)

EVS (ASX) Chart

Of course there is potential for it to go down based on the...

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Buyers (Bids)

Sellers (Offers)