9 January 2024
GCT has shown up on my >= 52 week high scanner the last few days. Volume over the last couple weeks looks good. Looks like the 8 EMA has been respected for a while if you want to wait for a pullback, or trade it if it moves above the high of today (24.01) with a stop below the low of the day (21.12 - hey, that's a Rush album lol!).
The 2 methods I like to use in these cases:
1: Wait for the price to stay above the high of the previous day (green line) for at least 15 minutes before taking a trade and set your stop at the low of the previous day (red line).
2: If the price stays above the high of the previous day (green line) for at least 15 minutes, add the stock to a watch list, and wait for a pullback to an EMA that has held it well and then buy it with a stop below that EMA.
GCT has shown up on my >= 52 week high scanner the last few days. Volume over the last couple weeks looks good. Looks like the 8 EMA has been respected for a while if you want to wait for a pullback, or trade it if it moves above the high of today (24.01) with a stop below the low of the day (21.12 - hey, that's a Rush album lol!).
The 2 methods I like to use in these cases:
1: Wait for the price to stay above the high of the previous day (green line) for at least 15 minutes before taking a trade and set your stop at the low of the previous day (red line).
2: If the price stays above the high of the previous day (green line) for at least 15 minutes, add the stock to a watch list, and wait for a pullback to an EMA that has held it well and then buy it with a stop below that EMA.