Anybody been watching the last few days trading at close?
It seems to have some good buying especially on the close, although today on the open a large 600k seller (capper perhaps) with buy side drying up?
First time in a while that sellers exceed buyers.
Strange if good news is expected.
The guts (no pun intended) says its in a consolidation period, although I cant get a clear direction form the charts. Indicators Stoch, macd & CCI indicating down, but this is the second day we have closed with a dragon fly showing buyers fighting back against the sellers.
"During the period of a dragonfly doji, prices will typically open at a high, sell off, and then return to the opening price. Dragonfly doji are fairly unusual, but when they do occur, they often resolve bullishly." http://web.streetauthority.com/terms/d/dragonfly.asp
Onward & upward I say..
But don't listen to me I could be a seller :)
CGG Price at posting:
37.2¢ Sentiment: Hold Disclosure: Held