Forget closing this gap - this is a breakaway gap. With a...

Forget closing this gap - this is a breakaway gap.

With a breakaway gap, not only do you get the gap and a new trend, but you also get a major change in the appearance of the chart, such as a widening of the normal high-low daily trading range, an increase in day-to-day volatility, and much higher volume. All these changes occur because the breakaway gaps draw in new traders. A breakaway gap is event driven, usually on some news about the security itself. The bottom of the preceding figure illustrates a breakaway gap.

Change in appearance - tick
widening of daily trading range - tick
increase in volatility - tick
higher volume - tick
event driven - tick

Also this Hammer Formation looks like bullish reversal - after the opening euphoria the bulls were able to reject the bears advances to ensure the close was well above low of the day.

All of this is important but no-way near as much as the Fundamentals - which all point to $$$$$$

Of the 12mio traded today I wonder how many were closing shorts - with anywhere between ~50-60mio shorts outstanding as of  last week there is plenty left to cover..

Bring it on

GLTA