A share firmly in the picture

Simon Thompson

Simon Thompson
A share firmly in the picture

I have noticed some very interesting developments from a charting perspective on Bollywood film producer, Eros (EROS: 243p). It's a company I have been following closely, having first highlighted the investment case when the shares were trading at 247p (Movie time, 22 February 2011); reiterated the advice in April ahead of the company's initial public offering (IPO) on the New York Stock Exchange (NYSE) when the shares were at 286.5p (Bolly good show, 23 April 2012); and remained a frustrated buyer, at 200p, six weeks later after Eros pulled its float due to the market turmoil (Unloved and undervalued, 12 June 2012). I last advised buying in mid-November when the shares were hovering around the 200p level with the 14-day relative strength index (RSI) on the floor and close to its lowest level since the end of the last bear market (A problem to solve, 19 November 2012).

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