EGUANA TECHNOLOGIES INC update...

originally published Thursday, August 11, 2016

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All Base Metal & Mineral Stocks

The consolidation pattern in Eguana has dragged on for longer than expected, due to a lack of news out of the company, but the fundamental outlook remains good. It is down on a support level and every time it tries to break down through it, support kicks in.


On the latest 6-month chart, everything appears to be in place for a new upleg to begin soon. The earlier overbought condition has now fully unwound, moving averages are in bullish alignment, with the rising 50-day moving average having caught up with the price, and the volume pattern is bullish. So it is thought that a bull Pennant is completing, even if it is “getting a bit long in the tooth”. Thus it is interesting to observe a slight but noticeable pickup in upside volume in recent days, with a small bull hammer appearing yesterday when the support was challenged. This may be the precursor to the expected new upleg. Good point for new purchases here, since a fairly close stop can be set below the support, say at just beneath C$0.24. Eguana trades in good volumes on the US OTC market.

Eguana Technologies website

Eguana Technologies Inc, EGT.V, EGTYF on OTC, closed at C$0.27, $0.201 on 10th August 16.

This update will be filed under Mineral Stocks in the Archive.


Posted at 5.40 am EDT on 11th May 16.

The above represents the opinion and analysis of Mr Maund, based on data available to him, at the time of writing. Mr. Maund's opinions are his own, and are not a recommendation or an offer to buy or sell securities. Mr. Maund is an independent analyst who receives no compensation of any kind from any groups, individuals or corporations mentioned in his reports. As trading and investing in any financial markets may involve serious risk of loss, Mr. Maund recommends that you consult with a qualified investment or securities advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction and do your own due diligence and research when making any kind of a transaction with financial ramifications. Although a qualified and experienced stock market technical analyst, Clive Maund is not a Registered Investment Advisor or Registered Securities Advisor. Therefore Mr. Maund's opinions on the market and stocks cannot be construed as a recommendation or solicitation to buy and sell securities.