Chart, page-3352

I mentioned before that I will post again if I see any opportunities developing.
This is the first time I see something since the downward break of the 0.61
the level that IMHO is not an overly risky play from a purely technical point
of view (day-trading opportunities aside).

Price appears to be basing in a small Ascending Triangle with the correct volume
profile. I prefer larger patterns (unless they are Flags or Pennants) but it is worthy
of note. This potential base is in the area of a previous pattern apex, a gap, and
the VWAP for the current calendar year.
A break and close of the upper boundary would also push through the 5-week SMA
which is has turned down and sitting now on the current candle. In such a scenario
it often provides short-term resistance and I would like to see it clearly surpassed.
The pattern is small and by definition, its implications should not be
exaggerated. However, If a valid upside break is achieved I think it could well be
the beginning of a more significant base and hopefully also a classical pattern.
Perhaps the expected company update will be the catalyst for that.
I generally do not believe in preempting breakouts with early entries without another
patter to justify it & IMHO the safest option is to look for a break on rising volume and
I will likely take a shot at a top-up if it materializes. My stop on such a parcel would be
around the 0.345 level. Though many would prefer it below the pattern, I prefer to keep
them tight.

I'm sorry if the tone of my analysis is not as one-sidedly bullish as some would like lol.

GLTA