share consolidation, page-13

Just out of interest the weekly chart of EVG shows a Pennant pattern formed between Nov 2010 and March 2011

I say the breakout point is between 12 and 12.5 cents, to be exact 12.2 cents.

So any increase in the share price from here, especially if confirmed by an increase in volume could be interesting.

Used to do a lot of charting and studied Tech Analysis back in 1998, so ideas may have changed since then.

More fundamental nowadays, but the technicals are still very interesting.


The theory used to say:

Pennant is a brief pause in a dynamic trend, in this case from 4 cents in August 2010 to 14.5 cents in January 2011, on a weekly close.

Confirmed by the breakout.

And a half way point of a measured move.


So will see what happens.

Not much love on the EVG thread at the moment, we must be getting anxious.

I have no problem with reddragons comments.

Dont necessarily agree with all the thoughts, but it is a discussion forum and alternate views are good.

My observations of Brian are that he is a particularly decent man, and because he is so heavily invested, his interests are aligned with ours.

Not saying he doesnt make mistakes though.


Regards cy7