I totally agree with all your points. This was the main reason that I sold this stock today at 37.5c (after entering at 33c several days ago) due to recent moves up with relatively low trading volumes.
There are a couple of possible scenarios at this stage:
- a pull back to the support area at 34-35c then a strong move up supported by good trading volumes to break resistance at 37.5-38c
- some consolidation with relatively low trading volumes in a narrow trading range just below 37.5-38c for 1-2 weeks then breaking this resistance level (I will re-enter the stock again).
irynka
GDO Price at posting:
37.5¢ Sentiment: Hold Disclosure: Not Held