Ok what have you got going here?
GCX. Looks like a nice little Aussie explorer.
So below is just my opinions on where I see the price action based from the technicals only, I don't include any of the fundamentals as I simply don't know them and I am shite at working them out. I do see that the stock had a couple of years holiday and reinstated back in 2022.
Anyway where are we at currently?
SP is having a little run so I'm assuming you've either had recent good news or you are anticipating good news. The chart is really telling a story and I could go on for hours but I'd better keep it short so you all don't fall asleep.
I'm using Heikin Ashi candles as it smooths the price action out and is easier to read. As usual with a micro cap like this there are gaps everywhere so these candles make it nicer.
The key takeaways from the above chart are the massive increase in volumes recently, MACD spiking very positively. Concerns I have in the very short term are that there is resistance to try and get through at .058, RSI is getting a little overcooked (not a real concern yet) and looking at the upper wicks on all candles, this indicates that either profit taking is happening or trapped supply is cashing in.
Please don't take these comments negatives, simply just reading the indicators and passing it onto you. No point only telling half the story or just what you want to hear.
So below is the most important chart for loooong holders IMO. The weekly.
You can see that MACD is crossing to the positive (bullish) phase and we need it as that red 50ema up top is the goal for the next month . We need to get the SP above that level as the 50ema is pivotal for long termers. The other one is the 200ema but that is a long way away unfortunately so lets just focus on the 50 at this stage.
However, while the SP is above that white bollie median line then the SP is rising and everyone's happy.
Currently your intraday charts are a thing of beauty for those playing at home. Trading beautifully above the 8 and 20 ema's.
Not sure I was able to tell you anything that you don't already know. You're currently in a nice spike and it's always good to be fighting higher resistances than lower support levels.
Enjoy the ride.
Cheers.
