Technical outlookf for Ekovest's stock price and stock chart.
Let's start of with the weekly chart of Ekovest.
First of all we can say that Ekovest has already bottomed and is now in a weekly uptrend. It has broken above a weekly downtrend line and this tells us it wants to change from a downtrend to a weekly uptrend.
The problem is this...
It has a lot of resistance on the left and this will not be easy for it to overcome.
The stock has gone back up above the weekly 20 MA and 50 MA and it may want to go back above the weekly 200 MA as well. This shows that the stock is getting healthier.
A good place for you to lookout for is the green support area that I have highlighted. If this stock is really genuine in continuing its weekly uptrend, it should find support here and not drop below it.
Moving to the daily chart, we can see that the stock is already above the daily 200 MA.
The 200 MA is rising and this at least tells us the stock has a good potential of going up in the long term.
The problem is it is drifting sideways. That is not surprising since there is a lot of resistance in the weekly chart that really needs to be absorbed.
I think this stock has a potential to move higher but it will be a frustratingly slow move up. If you want to play this stock and trade it choose only the most beautiful chart pattern to enter as the resistance on the left will leave you no doubt that any rise will be met by some selling later on.
For a short term gauge of this stock's bullishness, watch the uptrend line I drew. As long as it stays above this uptrend line then it is healthy and will move up.
I will not say this is a stock to ignore, and I would not say this is a stock that you should put on your watchlist. It's somewhere in between.
But if you would to ask me if I really want to play this stock...
There are lots of stocks that are in a nice solid perfect uptrend. Why waste your time on less perfect ones?
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