ELD Setting up the breakout.
Comments from the 11th November
A company exposed to the Agricultural sector in all forms from Weather reports for farmers to Live Export of cattle.
What’s really interesting about this stock, is related to the upcoming free trade agreement with China.
This is along term play on the Asian Macro picture.
The Weekly chart of ELD shows the significant low below 6c , the whole pattern that has developed over the
past 2 years is an inverse head an shoulder reversal, the right side of the pattern is now in a technical UP trend.
Hard stops would be set at 16 cents.
The WEEKLY chart of ELD Elders is setting up the potential breakout, closing in the high of the range of the week.
Stops can be brought up to 18c.
Primary Trend is UP.