EPB recently found support at the 29's, which is the 3 year weekly chart volume point of control. For those not familiar with Market Auction Theory, the "POC" is the most active volume-by-price for whatever chart interval you are viewing. These POC's traditionally act as magnets.
After hitting major support, we then look towards more recent POC's for potential upside targets on a bounce. EPB is currently trading at (31.00) which is a discount to both it's 6month (33.90) and 1 year(40.50) volume POC's. Citibank also recently upgrade EPB to 36.00.
For the charts on this divergence setup and ideas for profit taking areas, please feel free to check out my journal:
Submitted April 01, 2014 at 01:27PM by RockSexton http://ift.tt/1glTQPv
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