I did not see a chart thread, so for those who might be interested.
Weekly chart: Inverse head and shoulders with the correct volume profile. Now a confirmed breakout. Measured target of 0.38 (as with all measured targets, they are minimum projections).
Daily chart: Breakout from what some would call a bull flag with a measured target of 0.32. Others would say it is too long in duration for a flag, but the measured move of the breakout from what would then be a channel instead would have the same implications. That is where I took an entry, as an early shot at the break of the neckline of the H&S.
Volume picking up. Generally thinly traded and tightly held. A combination that on the one hand requires some caution, but can also lead to strong moves.
Pretty much one big resistance zone from 0.30 to high of 0.34 and do not expect it to blow through this zone in one shot, but looking quite strong today.
My sentiment is "hold" and not "buy", as IMHO I think from a technical perspective the risk-reward is now too great for a good entry and the sweet-spot is behind us.
GLTA
EGA Price at posting:
31.0¢ Sentiment: Hold Disclosure: Held
