Well, it's been a while since we covered TA on GMV. This is definitely a buy signal now that all things have settled. Anyways, the stock has now built a strong support line at 8c (blue) after breaking the double bottom. We have a few resistance lines in (red) to go through, your major resistance are in bold.
Also, we have closed above 20MA and 5MA respectively, with Bullish Kicker candle forming today,
The Bullish Kicker candlestick pattern doesn't need to form after a significant downtrend, but it often does. When this happens, the sudden change in attitude is likely due to a game-changing news event...MAC &RSI are also a buy signal...The last time such volume traded was around AUG 2018. IMO 0.165 will be tested shortly.
As you can see, the lowest black candle on the chart is followed by a gap up and a white candle, creating a Bullish Kicker. Although the second candle has a substantial lower wick, it doesn't enter the first candle's body. This is crucial, because if it did, the Bullish Kicker would not exist because the wick would close the gap between the candles. It is okay, however, that the candles' wicks cross paths. Following the pattern, as expected, a reversal occurs and an uptrend begins. Although peppered with black candles, the upward price movement is strong, creating a steep escalation.
EXAMPLE 2:
On this chart, the Bullish Kicker candlestick pattern is more dramatic. Neither of the candles involved has wicks, so the gap between them is clear. The gap is also wide, increasing the pattern's significance and reliability. Following the Bullish Kicker pattern, a vast gap appears, followed by a pair of white candles. The signal proved successful in predicting the future. Confident investors will be rewarded for trusting this Bullish Kicker.
