BUY GGB touch of lower bound of wedge pattern. Target = last major top around $5. High beta stock, has lagged in performance compared to EWZ and (less than perfect) comp such as SID. Funneling of prices (wedge) may also give rise to interesting long volatility bets upon eventual breakout.
Trading Methodology:
1. An asymmetric bullish/bearish pennant is drawn using ascending and descending curved trend lines with a minimum of three price action touche points per line. The direction is determined by the previous trend.
2. The angle tool is applied from the earliest two trend touch points, beginning at the earliest touch point.
3. A trend-based...
GGB is hitting the resistance of longer term wedge pattern.
Sub $4 Price Target for October.
The content is for informational purposes only, you should not construe any such information or other material as investment, financial, or other advice.
-Wextini
Not only gold futures are bullish, Coal and Palladium are bullish, and the majority of companies in the basic materials industry are making new highs and they are broken key resistance levels in this case 4.20 around was a resistance level who takes the price one year and two months and four attempts for broken it and finally the past week was broken, now is...
Be patient.
According to VectorVest.
This is an undervalued stock with $4.53
RV 1.18
RS 0.97
RT 1.73
CI 1.64
EPS 0.41
GRT 12
Steel Industry in US gained momentum since 8 Nov.
