Charts: EDC, for the long term?

Charts: EDC, for the long term?

7:45 PM
EDC has been one of my first stocks when I started investing a few years ago. I had a good run with it having bought at around Php5.00 and sold near its high of Php9++ with some guidance from my brother to sell it. Business wise, it is good for the long term with investments in renewable energy sources.

Now, as it is trading in a range for quite some time now, is it a good stock to buy? Let's see below.

Figure 1: EDC Weekly Chart
EDC is locked in a triangle, which I think is bearish if it materializes. If it breaks below Php5.20, then I would be very bearish on the stock. On a year-to-date perspective, you would have lost -6.54% based on Friday's close. Statistics are shown below.


Stock name EDC
Current Price 5.8
YTD Return -6.45%
52Wk High 7.02
52Wk Low 5.14
MVWAP (10 days) 5.8
MVWAP (20 days) 5.87
MVWAP (65 days) 5.73
MVWAP (252 days) 5.86
YTD Flow 292,386,784.00
20D Ave Volume 13,995,765
50D Ave Volume 15,476,720
90D Ave Volume 15,270,214

In a monthly perspective, I am hoping EDC would stay above Php5.00, as it has been staying for quite a few months. Hope because, I dont want it to slide down as it would really be bad for the stock. So far, that support line is holding and that, I don't want to see this SHARK.

Figure 2: Shark Pattern on the Monthly.
CAVEAT!

Disclaimer: Trading is a risky thing and the post in this site are for educational purposes only. Equities and Forex Trading is speculative in nature and may harm every trader and investor by losing money. Thus, do not treat this post as a recommendation to BUY or SELL a stock or a currency pair. Blog contents are valid only on the date of publication and will be subject to change without notice. Thus, the reader is advised to take precaution, and is recommended to do their own studies before pressing the BUY and SELL buttons. I will not take any responsibility with the readers trading results.


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