Galaxy is now in oversold territory according to RSI. Attached with our understanding of the fundamentals that makes an outstanding price to enter.
I hold a significant long position for a number of years but am now matching that with a short-term CFD position for the next week.
the Descending wedge is very evident, there is little to news risk, this makes me feel very comfortable trading short-term and even to the extent of limiting my cash outlay using CFD for maximum return. (Note, if your not familiar with CFD, do not use them by any means!)
The only unknown for me is the relationship between Morgan Stanley and Mitsubishi Financial. I believe Mitsubishi has the core holding, lent it to Morgan Stanley who shorted it, they are soon going to close the shorts ahead of the POSCO "payment received" confirmations... If anyone can interpret those substantial holder notices, would be good to know
GXY Price at posting:
$2.78 Sentiment: Buy Disclosure: Held
