Empire East Land Holdings (stock symbol: ELI) has seen a steady downhill move since price reached a 1.09 high in mid-April.
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ELI is currently sitting at a critical area. I would prefer a move through the line in the sand at 1.00. Without this move, bears have the upper hand. A break of 0.90 will open up a move toward 0.70-0.80.
The Detrended Price Oscillator (DPO) has just pierced through the zero level. The same thing has happened in recent months, so it remains to be seen if the upmove will last this time.
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