[back to ecd] uptrend observed

On the 10th, I suggested you a technical analysis of energy conversion devices pps and stressed the fact it could be time to enter long with a 14 target. On the 1Oth, ECD PPS was around 11.
What happened two days after was a long uptrend that went until a maximum around 13.5
The stock touched the 100 day moving average before retracting...
Now, investors are taking profits and a three black crows candlestick pattern constitutes the actual downtrend.


The pps evolution is somewhat cyclical and I think again one may get ready for an uptrend all the more since the MACD tends to go positive. In addition, one might predict a MACD positive divergence again with the same PPS as on the 10th but a higher MACD indicator value.

Let's see what's going on in the next days...