Good question.. Has been going sideways for almost 2 years..
Reasons ????.
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the longer the consolidation (the 2 year triangle) the more powerful the breakout
Attachment 9919
some were traded at 23.00 (up 50ish) on Friday afternoon, and not many sellers below that level today. further gains possible!
okay the end of today brought a completely different picture and I succumbed to divesting 20% of my Ebos.
Firstly it was too big a percentage of the portfolio (and still is actually) and secondly the price had spiked on Friday (with large volume) and reversed giving it a topping look with that hammer candle , and now today its done a bearish engulfing candle.
I guess I'm also influenced by the price of SML too, and so creating some clear liquidity preparing for a double down on that one at a certain level.
Attachment 9983
Hopefully not too fickle but this is what I saw today.
I see Ebos as one you hold as you never know when the next leap is going to happen. It can stay dormant on a level pegging with very little movement of the share price for long periods of time until BAM it leaps up another 10-20%. Who knows when the next jump up will occur.
I've only gone down to 80% of my earlier holding which constituted 40% of my portfolio so in essence I dont disagree but after such a huge rise there is very like to be retracement and an opportunity to rebuy at a lower price. If that never happens well I am still very exposed to the price staying high or higher with it now being 32% of the equities.
Down 33c today so it could keep falling after such a strong rise in the last six months.