ECA.TO has been consolidating in this downward channel for the past 7 weeks after a 5th rejection from the $18ish area. This is clearly a significant breakout resistance going back for 3 years, and it makes me wonder if there is a fundamental reason for this resistance (similar to the fundamental reason for TSLA and $360.00 resistance).
The long entry on this is frustrating to pinpoint because the exact resistance is unclear, as numerous higher highs since 2015 have been met with immediate pullbacks.
This will be a really nice long once that level does break with a profit target just under $22.00.
Does anybody know if there are fundamentals concerning ECA.TO and the $18 range? I'd love to hear your thoughts!
The long entry on this is frustrating to pinpoint because the exact resistance is unclear, as numerous higher highs since 2015 have been met with immediate pullbacks.
This will be a really nice long once that level does break with a profit target just under $22.00.
Does anybody know if there are fundamentals concerning ECA.TO and the $18 range? I'd love to hear your thoughts!