Eagle Cant Fly Higher?Posted: October 31, 2013
Eagle Material (EXP) is currently thumping against a multi-year resistance zone shown on the chart below. The first hit was in 2006, while the second and third hit were this year. It seems that the 78 level is currently a bit tough to break and if 2006 is any guide, we may see a reversal. Today’s long candle and ordinary volume (despite announcing good results) signals that buyers are not interested to take EXP any higher.
Did you know that eagles’ vision is among the sharpest of any animal and some eagles can spot an animal the size of a rabbit up to two miles (3.2 km) away!!!