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Guest Post: Zak Mir says EMED on a Rising Price Channel

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- Tom Winnifrith

Although it can be seen on the daily chart of EMED Mining that the shares have been in a volatile state at best over the past couple of years, the dominant charting feature still remains in place in the form of a rising May 2011 price channel. This nominally has its floor level with the 9.5p zone, something which suggests that we can assume further upside is on it way.

It is also implied that any weakness toward the uptrend line of last year should be regarded as a buying opportunity. Indeed, the attraction from a technical perspective is that while last year’s support feature remains in place the upside here could be substantial, if only in percentage terms. This is said on the basis of a 2011 resistance line projection heading towards 18p plus, a feature that can be regarded as the 3-4 month target. What can be said currently

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