Here you go Dazza. Charts really don't come any simpler than this. We have a nice clear uptrend, with a confirmed trendline and trendline-break "Sell" signal. Then we have a nice clear downtrend with a confirmed trendline and trendline-break "Buy" signal. Now we have a new trendline in place, based on the lows of the current uptrend.

The OBV is interesting. Note how it continued to climb while EBO was in a downtrend for most of this year. EBO was being accumulated over this period. Note the activity of the "smart money" (green circles). Big players (who presumably know more than you and I) were buying-up large as the price fell. I don't think much of their timing, but their intent is of interest.

Some people will have ridden out this correction. No-one knew how far the downtrend would run, so to me it seems foolish to "tough it out". Why run the risk of it continuing on? In any case, there was money to be made by selling then buying back in again after the correction.

Note that EBO was one of the 16 stocks identified in the "Market Perspective" thread as a potential buying opportunity. This was based on the idea that you want a fundamentally sound stock that is in a "long-term" uptrend. You want it to have been in a "medium-term" downtrend of reasonable magnitude and you want that downtrend to have clearly ended. EBO meets all these conditions quite nicely, in my opinion.



The chart includes today's latest price of $5.05. The Close may be different.