GMV Charts 2020, page-10

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Zutalors

1,239 Posts.

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20/01/20

18:48

Post #: 42479340
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Originally posted by Tiglath: ↑

What a day!what a run! This breakout was imminent and was confirmed after today's news. Wehave now officially ended downtrend and entered “uptrend zone” and crossed 200EMA successfully.This is when you need to go long. As you can see from the below chart, GMV wasstruggling to break the trend channel and had tried testing this zone severaltimes without any luck. We have finally entered the uptrend-channel with minor resistancebeing at 20c, followed by 22c and 0.325c respectively, with major resistance beingon the upper channel at 0.365c. Also, it is worth pointing out that we have nowended “distribution” phase and entered “accumulation” phase with volume goingup for the past a few trading sessions. Convergence/divergence is looking positivewith plenty of upside remaining. RSI has hit overbought condition on the chart, but it can remain overextended for a period. The direction of the bands have expanded which is very good and quiet bullish. Major support lines are at 17.5c, 8c and 7.3c. Note: I have not included minor support lines. I believe Dr.G has more announcements up his sleeves. One thing is for sure fundamentally and technically things are looking very positive. I expect over the course of this week people to jump on-board as they digest the news.

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TA & FA are always best bed buddies, thank you for the new chart.

GMV Price at posting: 19.0¢ Sentiment: Buy Disclosure: Held
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