Chart says it all. went short at 13.12 down to low 12's. rebought at 12.09 and see price movement bullish in short term. As of today, a close above 12.55 on the retracement imho indicates retest of the 13.15/13.17 resistance level. Will be doing 4hr chart. at a quick glance it may be forming a nice cup and handle. Remember different time intervals tell different stories and market sentiment. Chart and technical analysis selection should align with trading pattern, time line, and strategy.
*this is a continuation of a previous chart where I was bearish on share price
*this is a continuation of a previous chart where I was bearish on share price
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**EDIT** PLEASE DISREGARD STATEMENT OF POSSIBLE CUP AND HANDLE FORMATION.
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Today appears post gap up to have formed a bullish pennant. Not by text book standards since there is no flag pole succeeding as of yet, but based on a what im saying I think the logic favors a bullish bias with a close above 12.56
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Ideally, a close above 12.56 would have been exactly what I am looking for a close at 12.55 will keep me in the game another day.
It has the potential and the mechanics of a triple bottom, a lot of investors have been chanting to buy your ticket back to the 15+ range and this maybe that ticket, but this is AMD so keep that in the front of your mind NOT the back.
it still has a definitive resistance in the 14.40's range before we ever see 15+ and that has been as tough to break out of as Alcatraz.
GLTA
It has the potential and the mechanics of a triple bottom, a lot of investors have been chanting to buy your ticket back to the 15+ range and this maybe that ticket, but this is AMD so keep that in the front of your mind NOT the back.
it still has a definitive resistance in the 14.40's range before we ever see 15+ and that has been as tough to break out of as Alcatraz.
GLTA
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Not the ideal picture today, but sentiment remains the same. I have implemented a stop at 12.13
my entry point is 12.09
my entry point is 12.09
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Close above 12.33 maintains bullish bias
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Still bullish (barely) but weary, stop has changed from 12.13 to 12.04. IMHO this is mimicking 8/28-8/29 trading sessions. PT is still upper 12's
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Tagged trend line (supp) almost perfectly had my stop at 12.09 and I believe It did hot 12.08. So from the bearish gartley that was confirmed, a rise out of the ashes by way of 3x btm is seeming more likely. Do not wish, hope or chase, if your pps isn't sub 12.20 I don't see the upside till 12.33, and 12.65 are secured. stop is still active but at 12.09
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PT and exit points remain unchanged
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12.65 secured. I would say price action supports triple bottom hypothesis. Exit strategy remains unchanged 12.99-13.10 window.