50c finally!, page-8

Great move today from GXY. At the link below is a chart for the last year

http://pastelink.me/dl/1cf19c

A few comments:

- The last time I saw accumulation like today was on November last year when the share price rallied for 4 or 5 days more than 30%. That was followed up by a change in substantial holder notice from M&G saying they'd acquired 3.4 million additional shares.

- There are some strong similarities between the price action leading to that move and the movement the last few weeks. The current pattern is a textbook 'Adam and Adam' double bottom (sharp moves at the bottom, Bulkowski). The double bottom is a mid-range reliability pattern (10th out of 20 tested in Bulkowski's statistical analysis)

- Today the 35-day moving average was broken which has acted as resistance since the capital raising.

- Strong overhead resistance at 56 cents (previous heavy support level).

- Gap above from 56.5 -> 58 cents.

Good Luck All