EPD – Empired Limited | Aussie Stock Forums

EPD: As I’ve started a short term trade in this stock I thought I’d explain what I’m seeing. Nortorius first mentioned the code and I liked the chart. Mentioned in post #189 Pav momentum thread.

FA: It’s in the IT industry, which for me is a plus due to the capability of IT to improve productivity It’s cheaper than adding staff.

Chart: Weekly trend UP, Higher weekly swing lows, huge corrective sideways consolidation, prices at/near yearly highs.
Price has recently spiked to 0.83, which is a level that supply has entered on numerous times before. On this third attempt, supply entered again lowering prices to prior high (0.78), then there are three bars with lower wicks indicating buyers but with such low volume it’s probably the absence of sellers. the next bar (Fri 2/4/15) clsoed > 0.80. Once price closes above old yearly highs, there is potential for further rises.

This is not a lifelong investment, I know nothing of the company. I’m trading price and targeting +1R – +2R result in the next few days.

Short term momentum trade started at open. Bought 0.82 (iSL 0.77). Target 0.92 (in market).

Will supply re-enter this afternoon and force price back down again? We’ll see. I’ll manage the stop loss after the close.