Ellipsiz (E13) as Requested
Ellipsiz (E13) had a beautiful chart. The Price cut sharply across the 10 DEMA & moved upward decisively. The Guppy Chart also depicted a "fold up" smartly against the longer MAs’ peer. This signifies a strong up thrust convincingly, short term wise. In tandem, the Candlestick showed a runaway gap, which provides clue of an inevitable continuation of uptrend. Together with a top shadow, this candle could have been lethal, if it is in an extended uptrend. All are muted as currently it is a breakout against an ascending triangle. The CCI up at 50 would indicate to us that it is not overbought. Also its volume of 6 mil against the average of last 10 period (3.5mil) can be taken as increased interest. All the above pass my filters for entering a trade!
The –ve sides that I can see are the standing tail on top of the Candle, called “uptrust”. This, if seriously taken, would mean bull’s effort collapsed into bear dominance at the end of the day. Also ADX down at 25 cannot prove probability of a sure uptrend.
All in all, a very good candidate for entry, especially so when Tech share is currently in favour!
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