MACD Indicator providing buy signal
The twelve-month chart of the Australian graphite company EcoGraf (WKN A2PW0M / ASX EGR) shows a nine-month price decline below the blue trend line since March 2024 – with the price losing a good 50% of its value. At the beginning of December, the stock managed to break above the trend line and the 100-day moving average. Despite a pullback, the stock remained above the downward trend line – recently, the 200-day moving average was also clearly crossed under high trading volumes, and the violet uptrend channel that began in November can now be considered well established.
The two moving averages are still showing a rather negative trend: the 100-day moving average has remained below the 200-day moving average since July, but fortunately turned upward again a few days ago.
A chart-technical buy signal was generated by the MACD indicator a few weeks ago (blue line crosses red line upwards) and is still clearly valid. After a long period, the trend confirmator managed to make a significant jump above the neutral 100 mark into positive territory at the beginning of December, where it is currently continuing to rise. The values of the Money Flow Index (turnover-weighted relative strength RSI) have been close to the overbought mark (above 80) in recent weeks and are at their highest level in the last twelve months. The overbought/oversold indicator also reached the overbought threshold twice (> 2.0), but quickly fell back to half way to the neutral midpoint.
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According to §34b WpHG and according to Paragraph 48f paragraph 5 BörseG (Austria) we would like to point out that principals, partners, authors and employees of GOLDINVEST Consulting GmbH hold or may hold shares of EcoGraf and therefore a possible conflict of interest exists. We also cannot exclude that other stock letters, media or research firms discuss the stocks we recommend during the same period. Therefore, symmetrical information and opinion generation may occur during this period. Furthermore, there is a consulting or other service contract between EcoGraf and GOLDINVEST Consulting GmbH, which means that a conflict of interest exists.
