Last time we saw some bullish sign on EMP it was when it close the week at 11 per share forming an Engulfing pattern on weekly chart. Price have moved and registered some higher highs and higher lows thus forming an upward channel. Today our price pierced through the cloud although not so convincing because it closed just at the Senkou Span. This may result to a retrace and may find support at 11. Nonetheless I still think that EMP will continue to rise. Headwinds we will encounter should be an opportunity to add more shares as we drink EMPERADOR, moderately.
RSI or Relative Strength Index is still around 65. This is not yet overbought but we have seen EMP hit this level twice and every time it does, it retraces.
Caveat!
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