Wednesday, May 7, 2014

Energy Development Corporation (EDC) - May 7, 2014

Technical View
Weekly Chart
> It seems that EDC is forming a Possible Bearish Deep Crab Harmonic Pattern with Potential Reversal Zone (PRZ) at 7.
> The 88.6% Fibonacci Retracement is supporting the downside. Further support is seen at 50MA.
> Resistance at 100MA and 200MA.

Relative Strenght Index (RSI) - Based on 30-Day Period
> RSI is currently at 50.92.
> Support at 49.56 (127% Fibonacci Extension).
> Resistance at 51.22  (141% Fibonacci Extension). Further Resistance at 53.68 (161.8% Fibonacci Extension).


















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