GBGM: Thanks bud, my comments last night on the 50
Post# of 777
Posted On: 07/04/2014 12:04:29 PM
GBGM: Thanks bud, my comments last night on the 50 day moving average showed the significance of the level, but if you look at a longer time frame you'll really see what has chartist talking about GBGM..........
Until Thursday the 3rd the last CLOSE above the 50 DMA was on Jan. 21st..............yes, you'll have to go all the way back to Jan. 21st to find the last CLOSE above MA(50)............IMO that is very significant....
you'll find the 50 DMA is a major support / resistance level.......the 50 day moving average had been resistance for nearly 6 months until it broke on Friday............the volume may have been low, but the move was HUGE!....
I have some opinions on the volume........I will comment on the volume throughout the holiday break........w/ the $600K traded on the 12th & the action that followed, which was watched very closely, it appears the GBGM Float is in the process of being locked up........just look at Friday's action.......GBGM is very thin and now moves easily..........thanks for the reply........more charts & TA coming........... $$$
http://stockcharts.com/h-sc/ui?s=GBGM&p=D...2870676137
http://stockcharts.com/h-sc/ui?s=GBGM&p=D...2750940609
Until Thursday the 3rd the last CLOSE above the 50 DMA was on Jan. 21st..............yes, you'll have to go all the way back to Jan. 21st to find the last CLOSE above MA(50)............IMO that is very significant....
you'll find the 50 DMA is a major support / resistance level.......the 50 day moving average had been resistance for nearly 6 months until it broke on Friday............the volume may have been low, but the move was HUGE!....
I have some opinions on the volume........I will comment on the volume throughout the holiday break........w/ the $600K traded on the 12th & the action that followed, which was watched very closely, it appears the GBGM Float is in the process of being locked up........just look at Friday's action.......GBGM is very thin and now moves easily..........thanks for the reply........more charts & TA coming........... $$$
http://stockcharts.com/h-sc/ui?s=GBGM&p=D...2870676137
http://stockcharts.com/h-sc/ui?s=GBGM&p=D...2750940609
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