EGLD directly surged nearly 30% yesterday.
Before that, it had been churning in the 3.4 to 3.9 range for several days with not much movement.
Then on September 2nd, it suddenly saw a big volume spike—jumping in one move from around 4 to 5.2 and 5.3. Today it even briefly touched as high as 5.5.
Over the past two days, it’s been more active on the gainers list than SUI.
Now the price is fluctuating around 5.2. Looking downward, 4.8 to 5.0 is the first support. Below that, the next levels are 4.5 and 4.0. If it can break above 5.5, the next target is likely around 5.8 to 6.0.
In the short term, it has reclaimed several moving averages, and momentum looks relatively strong.
But with a move this big in a single day, the probability of a pullback isn’t small either. Chasing in like this could easily mean getting caught in the retracement. If you wait, you might also worry it will keep running.
My habit is: I don’t chase these sharply-rising ones. I wait for a pullback, then check for confirmation of support. If 4.8 to 5.0 can hold, it means the buying is real. If it can’t hold, then I keep waiting.
Volatility is high—don’t over-allocate, and don’t let emotions drive you.
Before that, it had been churning in the 3.4 to 3.9 range for several days with not much movement.
Then on September 2nd, it suddenly saw a big volume spike—jumping in one move from around 4 to 5.2 and 5.3. Today it even briefly touched as high as 5.5.
Over the past two days, it’s been more active on the gainers list than SUI.
Now the price is fluctuating around 5.2. Looking downward, 4.8 to 5.0 is the first support. Below that, the next levels are 4.5 and 4.0. If it can break above 5.5, the next target is likely around 5.8 to 6.0.
In the short term, it has reclaimed several moving averages, and momentum looks relatively strong.
But with a move this big in a single day, the probability of a pullback isn’t small either. Chasing in like this could easily mean getting caught in the retracement. If you wait, you might also worry it will keep running.
My habit is: I don’t chase these sharply-rising ones. I wait for a pullback, then check for confirmation of support. If 4.8 to 5.0 can hold, it means the buying is real. If it can’t hold, then I keep waiting.
Volatility is high—don’t over-allocate, and don’t let emotions drive you.