chart, page-2

GMA shows some promise as a short/medium term trade. If my Elliott Wave Count is correct price will rise above $4.40 (I don't have an exact target yet). Price recently fell back and broke below uptrend support and this week made a formal 12 week downtrend, As often happens after a sharp correction, price falls into a sideways pattern and GMA has done so.That sideways pattern has the hallmarks of a Wyckoff pattern with the point marked 4 possibly being a spring, after which price could be expected to generally make higher highs and higher lows. I bought yesterday morning on this basis but price then fell (Murphy's Law). It has recovered today and I think GMA should now keep going (that said when price first rises from a low like this it often retests the low before committing itself to an uptrend. While I don't do much fundamental analysis GMA's report released the other day seemed OK to me).