Energy Development Corp. (stock symbol: EDC) has an interesting chart showing a double top and initial downtrend taking place (with SH or Swing High, SL or Swing Low, LSH or Lower Swing High, and a potential LSL or Lower Swing Low).
Initial LITS (Line in the Sand) is 8.00-8.50.
If more sellers will come in in the next few weeks, EDC would be pulled down toward 6.00 to 7.00.
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