Technicals:
I will play this situation with a short-term, long swing trade. My profit target is ~25%, at 71.39, with a risk/reward of 3.29 and stop loss right below the swing low, at 52.61
- GFS is in an ascending channel
- Has just had a reversal off the channel support line
- Reversal confirmed by crossover above lower line of regression channel
- There's around 30% upside to the resistance line of the channel.
I will play this situation with a short-term, long swing trade. My profit target is ~25%, at 71.39, with a risk/reward of 3.29 and stop loss right below the swing low, at 52.61