EDEN.N WeeklyThis chart and analysis are not financial advice. Do your own research before trading or investing.
CSELK:EDEN.N0000
EDEN.N0000 trade ideas
EDEN.N DailyThis chart and analysis are not financial advice. Do your own research before trading or investing.
Price Trend:
The stock is consolidating within a triangle pattern, which suggests a potential breakout soon. This means that the price is squeezing between two converging lines, and when it breaks out of the pattern, a larger move (either up or down) can be expected
Support and Resistance Levels:
The price fluctuates within the support/resistance zone of LKR 14.20 to 14.60 (highlighted in yellow). These are important levels where the price has historically struggled to move beyond or below.
The chart also shows several Fibonacci levels that indicate possible areas where the stock may face resistance if it moves higher (R: 15.20-15.50 and R: 16.60-17.40) or support if it declines (S: 13.30-13.70).
Moving Average Analysis:
DMA 20 (Yellow Line) is close to the current price, indicating the stock oscillates around its short-term trend. A move above this could suggest a short-term upward move.
DMA 50 (Purple Line) is slightly below the current price, supporting the medium-term bullish (upward) trend.
DMA 200 (Blue Line) is far below the current price, which confirms that the long-term trend is still positive. When the price is above the 200-day moving average, it’s a sign of general strength in the stock.
RSI (Relative Strength Index):
It's around 67.77, which is still under 70, suggesting there's room for more upward movement.
Potential Move:
The triangle pattern suggests a breakout could be imminent. A breakout above the upper resistance line could push the price towards the next target at around LKR 15.20-15.50.
Bullish Scenario: If the stock breaks above LKR 14.60 (the upper side of the triangle), the next targets are LKR 15.20-15.50 and possibly LKR 16.60-17.40. The stock is above its 50-day- and 200-day moving averages, supporting a long-term uptrend.
EDEN.N Daily ChartThis chart and analysis are not financial advice. Do your own research before trading or investing.
Bullish Observations:
Strong Price Surge: Recently, the price has surged to 14.5 LKR, up by +7.41%, indicating strong buying momentum. This price action broke above the 13.30-13.70 resistance (marked as S: 13.30-13.70), a bullish signal.
Golden Cross: We see the short-term moving averages (yellow and purple lines, likely 50-day and 100-day MAs) crossing above the longer-term blue moving average (probably the 200-day MA). This is often a "golden cross," signaling the start of a new uptrend.
Volume Spike: The large spike in volume recently indicates that the price movement has strong support from the market. High volume on a price rise is generally a positive signal, suggesting strong interest from buyers.
RSI Bullish Divergence: The RSI indicator has a bullish divergence. While the price was previously making lower lows, the RSI was making higher lows. This divergence often signals a potential trend reversal, which has already started to show up with the current price rise.
Fibonacci Levels: The price has broken above several key Fibonacci retracement levels (23.6%, 38.2%, and 50%), which adds to the bullish sentiment. If it continues, the next target could be 14.20-14.60 (the next resistance), followed by 15.20-15.50 at the 1.0 Fib extension.
Trendline Break: The stock has broken above a key downward trendline (TL #1), which indicates that the bearish pressure is subsiding, and a possible new uptrend is forming.
Potential Risks:
Overbought RSI: The RSI is nearing the overbought zone (currently at 78.84). An RSI above 70 can sometimes suggest the asset is overbought and may face a pullback or consolidation soon before continuing higher.
Resistance Ahead: The price faces significant resistance in the 14.20-14.60 zone. If the stock fails to break this level, it could trigger some profit-taking and lead to a minor pullback towards the support zone of 12.40-12.60.
False Breakout Risk: The recent breakout above the downtrend and Fibonacci levels needs sustained volume and buying pressure to confirm its strength. If the volume weakens, there’s a risk of a false breakout and the price returning to previous levels.
EDEN.NThis chart and analysis are not financial advice. Do your own research before trading or investing.
EDEN.N is defying gravity! Despite a 20% plunge in the broader ASI, EDEN.N is finding solace in a bullish falling wedge pattern. This price compression, often a precursor to a breakout, has seen EDEN.N test and hold its critical support zone of 12.40-12.80. Adding fuel to the bullish fire is a bullish divergence, hinting that the downtrend might be losing momentum. Buckle up, because EDEN.N could be ready to launch!
EDENEDEN Daily
This chart and analysis are not financial advice. Do your own research before trading or investing.
EDEN However the earnings technicals seems to hot for the counter.. breaking the trendline will be important for bulls.
MA's are converged, RSI has broken out and retested.
EDEN.N - EDEN HOTEL LANKA PLCDisclaimer: This chart and analysis are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations. Do your own due diligence before trading or investing in this stock.
The price has broken the long resistance trend line and is maintaining above it.
Also, it has created a descending wedge which is a bullish signal.
03-03-2023
EDEN was testing the support 17.50-17.80 area and created a bearish engulfing candle. RSI values cooled down a bit but. MACD is still sowing positive signs while the MA 20/50 shows signs to cross.
07-03-2023
The stock price kept dipping for the second day while validating the previous close engulfing candle. It broke the support from 17.50 to 17.80 (which was a weak support) and closed above the MA 50. The price closed at 17.00 Rs, the upper limit of the strong support area. (16.00 to 17.00)
08-03-2023
EDEN came down and closed within the support 17.50-17.80 range. If this support doesn't hold 16.00 to 17.00 support will be the solid area for rest.
Even though the price came down RSI and MACD was not showing negative sentiment.
17-03-2023
Share price kept gradually coming down to a strong support zone. There is some positivity cos' 20 MA has crossed the 50 MA.
24-03-2023
Share price moved sharply towards the resistance area of 18.00-18.50 and closed in the range.
Both MACD and RSI are showing bullish signs.
28-03-2023
Share price dipped further towards the support zone, but there was still interest to collect the share.
EDEN | Broken Inverted H&SThe stock has broken above the inverted head and shoulders pattern, which suggests a potential upward trend. Based on Fibonacci retracement levels and pattern target, it is possible that the stock may reach retracement level 0.382 at around 19 levels, or even Fib Retracement 0.5 at 20 levels.
Disclaimer: This chart and analysis are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations. Do your own due diligence before trading or investing in this stock.
EDENEDEN breakout took place convincingly with over average volume spike. Next it is expected to break the fib 0.236 and fib 0.382
EDEN | Possible Inverted H&S in the makingThe stock has broken above its long-term descending trendline resistance and has retraced back to the trendline to test it for support. During this process, the stock appears to be forming an inverted head and shoulders pattern. If the stock manages to break out above the neckline around 17 levels, it may move towards the 19 levels to reach the Fibonacci retracement level of 0.382.
Stop-Loss could go below previous higher low of 15.80
Disclaimer: This chart and analysis are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations. Do your own due diligence before trading or investing in this stock.
