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h00ts

46,410 Posts.

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14/06/17

15:38

Post #: 25271721
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Originally posted by Darkstone ↑

Looks like sentiment has changed for a bit, buyers now coming in and sellers falling.

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VWAP today on $8m turn over is $1.85 - so it could see a bit of bargain hunting into the close ?

Originally posted by dmans ↑

Rarely, but actually, your line falls on the 786 retracement which is good news. Bad news is I dont think thats going to hold. The rib levels behave well for this stock.

Below is my analysis over 6m and so far its been pretty good. Its all a bit messy as its full of retracements and extensions but they all line up very well.

Whats a real bugger is that $2.0 was a very strong resistance both structurally and also lied on the 786 retracement AND the bottom up trend line - but that got smashed a week ago. This is why there has been increased shorting.

NOW the retrace at 50% at around $1.78 is all thats holding it up now.
As I type its getting close.

If it break we are looking at the 1.7 and 1.42. Its a bit of a mess at the moment

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Yeah the 50% fib line was also on the weekly chart I posted - needs to hold $1.75-$1.77 region or their isnt much support below until you get to around $1.40

Last edited by h00ts: 14/06/17

GXY Price at posting: $1.77 Sentiment: None Disclosure: Not Held
8 Upvote

0 Great analysis

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