TomProTrader

Encana: Expecting To Longs To Eventually Come Into This Stock!

做多
NYSE:ECA   None
4
Traders,

Looks like a long should be under way very soon. Theres been some underlying impulse evident in this stock and I do have a strong feeling that bulls will be participating at, or near this level.

I have analysed this stock carefully and think it's upside target could be 12-17$ per share in the future, with downside limited being limited to $7 (In my opinion only)

Theres also some divergences to note, but I didn't put them on the chart. But they further support bullish intentions. Breaking this sideways TL resistance will confirm impulse and hopefully provide a nice entry point. A lovely piercing candle confirmed the bulls at a nice reliable level. Trades like this are nice. But complicated.

Best of luck traders,
Tom

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