Hi Sharky
This morning I voted in your poll - I'm a "Paint Dry"
and I'm not sure whether you are expected feedback.
however during the day I did put some more thought into the chart of EBQ.
1. It is in a reasonably long uptrend
2. Currently in a short down trend following a series of oscillations.
3. volume is low
4.RSI, Stochastics, MACD give no clear signal (also one of my favorites Chande Momentum Oscillator)
5. OBV reflects the long uptrend but no sign of "informed buyers" being in the market ahead of the herd.
6. 10,20 and 150 day MAs are converging
7. Closing in on resistance level.
8. Faint possibility of trendline break.
All this would suggest EBQ is entering a consolidation phase and will stay there until (if) buying pressure breaks through the overhead resistance OR profit taking sends it south.
However the interesting question is raised by the decreasing strength of successive supply trendlines (down) while the demand line (up) has run a long way without apparent weakening.
So, without changing my position from "wait and see", I would listen to opinion which suggests some interesting developments may be in the offing.
This does not represent trading advice DYOR
Peter
