EDEN (7471)

EDEN (7471)By Zhuge Liang

Andrew's Pitchfork
This pitchfork may be somewhat similar to RESORT's but that's where the similarity ends. Whilst the "garfu" in RESORTS is about breaking supports, EDEN's garfu is abt breaking resistances. Since RESORTS really went nowhere, technically speaking, then EDEN should be going places.

The pitchfork chart is a rare commodity like antique; not many around but ZL will highlight some pointers newbies may tend to overlook or fail to contemplate.

Questions? Bolehhhh .... teh tarik gelas besar dulu ..... hahahaha!!!

Prices declined from May08 resisted by Pitchfork handle Meridian Line A all the way until it hit rock bottom in July08. Rebounded off support at prong B and meet immediate resistance at fork inter-section where it pulled back yet to resume another spike up breaking Meridian A in the process b4 running smack into resistance at prong C.

Another pullback from C but what many did not notice is that the strong Meridian A line handle which was the major resistance had turned SUPPORT. This brings the CHANGE IN POLARITY PRINCIPLE into the equation. Meridian Line A had morphed from strong resistance to strong support. Look at EDEN's prices along this Meridian A and you will understand what ZL meant.

TA freaks basically buys at support or at break of resistance. EDEN now hv 2 strong support Meridian A and along prong B. EDEN is recommended for a short term or trading buy. Worse case scenario - break Meridian A surrender w/o regrets. If break prong B support, don't take your remisiers call. Mestilah minta $$$ contra losses mah :P

Fast Stoch ... %K 58.33 %D 64.66 may hv somewhat formed a sell signal but nevertheless still remains in the upper tier. EDEN can be relooked as bearish again only when fast K and slow D drops below 30 oversold level. So far holding well and above neutral 50.

Money Flow Index measures, as the name itself spells, money pumped in or out of this issue. MFI is highlighted in one of 2 charts attached.

RSI or Relative Strength Index stays bullish with some negligible downside most probably due to profit takings ahead of weekend. RSI 14 remains 43.67. When it drops below 30 - start worrying. Otherwise can stay optrimistic on EDEN.

Fundamental wise the word bad is an understatement >>> Terrible sounds better. No need to wonder why EDEN is trading at 38 sen wayyyyy belows it's 1.00 PAR value. As they say, Good things don't come cheap but in EDEN's case cheap things DO come good - sometimes.

And there is no better time than when it is near it's 52 weeks low 33 sens. Barring it's teruk FA, this is a TA techies upjohn. When it's time cycle arrive, together comes EDEN's volume, volatility, speculations and all the momentum needed to increase or even stop your heartbeat.

Trendline Chart
Self explainatory. Just zoom in charts attached and read some fine prints. In not too many languages ..... A PICTURE SPEAKS A THOUSAND WORDS. Now, pick up the phone ...... :P

HAPPY TRADING