EGLE daily chart showing some powerful positive divergence but sometimes divergences are divergences until they aren't. Since the previous higher low in January came with buried negative indicators, the positive divergence bounce appears to be a reasonable projection. A potential island reversal exists should price jump from 4.40 to 4.60 but that is getting too far ahead. Since weekly charts continue to have an unenthusiastic sideways feel to them, this positive divergence bounce is best as a quickie in and out. 4.20 would be a nice goal and a 7% jump from a 3.93 entry after the open this morning.
Price may still feel its way in the blue circle before popping, once over 4.0 however, price should receive some positive momo. Perhaps a pop in bulk shipping of cement, iron ore, etc..., will be required to service the Japanese earthquake reconstruction effort, thereby benefiting EGLE. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here or any links connected to this information. Consult your finanical advisor before making any investment decision.
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