Buy signal from Octobre still valid

The one-year chart of the Australian company Ecograf (ASX EGR / WKN A2PW0M) shows a price decline since the beginning of the observation period, which has been below the blue downward trend line since February of this year. Following a bottoming-out phase in September and October – accompanied by very strong trading volumes – the share price rose sharply above the blue downward trend line and the two moving averages. All three lines have already been successfully backtested from above (purple circles).

Fortunately, the 100-day line has been rising again for three weeks and the 200-day line has also ended its downward trend and is already moving sideways.

Source: Comdirect

The MACD indicator generated a technical buy signal at the beginning of October (the blue line crosses the red line upwards), which is still valid. The trend confirmer was able to overcome the neutral 100 with a powerful upward leap and is now very far into positive territory. The Chaikin Money Flow confirms the high turnover accompanying the price increase with its course in the green area and thus shows that capital is flowing into the share. The Money Flow Index, on the other hand, is in the 80 range, indicating that it is currently overbought. The overbought/oversold indicator also showed a short-term overbought situation in the area of the 2 mark – currently it is clearly positive but well away from the extreme.

The four-year chart shows that the long-term blue downward trend line, which began at the end of 2021, was also overcome with the current upward jump.

Source: Comdirect

Disclaimer: GOLDINVEST Consulting GmbH offers editors, agencies and companies the possibility to publish comments, analyses and news on These contents serve exclusively the information of the readers and do not represent any kind of call to action, neither explicitly nor implicitly they are to be understood as an assurance of possible price developments. Furthermore, they in no way replace an individual expert investment advice, it is rather promotional / journalistic publications. Readers who make investment decisions or carry out transactions on the basis of the information provided here do so entirely at their own risk. The acquisition of securities, especially with shares in the penny stock area, carries high risks, which can lead to a total loss of the invested capital. The GOLDINVEST Consulting GmbH and its authors expressly exclude any liability for financial losses or the content guarantee for topicality, correctness, adequacy and completeness of the articles offered here. Please also note our terms of use.

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 Goliath Resources 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 Goliath Resources and GOLDINVEST Consulting GmbH, which means that a conflict of interest exists.

Latest News

Latest Videos