ENV has formed what may be called a Flag. The big up day a week or so ago is the Flag Pole. We are now forming the Flag. These things usually break in the direction taken by the pole, but no guarantee. If we do move to the up side I would expect to see 15.
It appears I am now the only one posting on this stock. If any of you are reading this and have comments I would love to hear from you. I added to my position a couple of days ago but will sell these new shares if we drop below the base of the flag. Best to all of you.
This is Charlie W posting.
I guess we are going to have to call today's action not only a high wave candle, but we might as well call it Doji.
We are still well above the 8 DMA which is one thing I watch for a sell signal.
I don't know if the market has it in it to go up but a little December rally would be a good thing for ENV. That is what I am looking for but come January all bets are off.
A Golden Cross would be nice, and we could have one in pretty short order if WFR heads up farther.
Instead we do have its cousin the Bow Tie working for us. Check out Dave Landry's Bow Tie model. My friend Dave Steckler has also posted some work with Bow Ties. Landry uses cross overs of the 10 DSMA, the 20 DEMA and the 30 DEMA to get the effect of the Golden Cross on a shorter time scale. Where they cross it give the visual impression of a bow tie.
I am about ready for this thing to break above 14 and head on about its business. My smaller investemnts are doing well, I just wish the big dog would hunt. Maybe tomorrow.
For the past umpteen months I have been the only poster on this board. I love it. I don't know what it takes tio wake the world up but ENV is lighting my fire right now. See my previous posts both as CW and SCD.
I wish I could offer something. I bought at 15.50 as it rose from its last pullback. Now this pullback is deeper than the one where I bought. My patience is getting thin because it has broken my model now.
It scares me to hold a stock through the earnings release date. It matters not how good they are.
This time I may decide to hold on. Wish me luck.