....Been long since 0.49 and added at 0.46. Looking to form V recovery after confirming bottom multiple times. Reversal gets this around 0.86 within the next month
Early Inverted H&S can be seen forming, a left shoulder and a head can be observed. This theory is supported by both rising CVI and volume RSI. Risky trade.
#GSM is trending up.
Positive surprise on last earning release.
We see Bullish Engulfing Signal on Friday's close.
I see 1:2 Risk:Reward ratio.
P.S : Its not an investment idea, these candlestick studies are just for myself, for my own educational purposes.
the Open interest is on the put side 0 on the call this will let you buy cheap at the price if we don't break bellow the trend channel
This Stock have a relative Strength of 94% with an estimate earning Q242%-40% just follow the price action and volume confirmation.
GSM will be an interesting short potential, if it testes its resistance at $11.47. We think it will decline after testing its resistance & it can fall as low as $9.88
* Trade Criteria *
Date First Found- May 25, 2017
Pattern/Why- Potential short from Resistance
Entry Target Criteria- Retest resistance at $11.47
Exit Target Criteria- $9.88
Stop Loss...
GSM is an interesting stock, with almost 70% short float and up 30% for the month. It's had several unprofitable quarters, but yet still pays 8 cent dividends. It certainly got a lift because of the president-elect Trumps plans to build/repair the nations infrastructure, bridges, etc.
A long term bearish trendline has recently been broken, and the downtrend seems to be reversing. Watching for price to break above the 200MA to go long and then wait for a golden cross.
