I’ve been watching the GSC chart since my system picked up the BFS “Bottom Fishing Setup” that triggered on 16/08. See daily chart below.
Should have taken the long trade when the setup was triggered on 20/08, but the SP seemed a bit too close to the 50 SMA. The 50 SMA has proven a strong resistance level on a lot of the Lithium Stock BFS setups lately. However the GSC SP kept on going until it hit the 12/06 Anchor Zone Close level at 36c.
The WaveTrend momentum oscillator has now turned back down and a Bullish Flag pattern is forming. A break of the SP above the Flag and the 50 SMA at around 32c would give a Fib 100% target of 42c on the next impulse move up. This target level ties in well with the previous high volume Anchor Zone Close from 14/06. I like it when these various levels line up nicely. The 36c level may still provide significant resistance. On the downside I would expect the 28.5c level to provide support.
All IMO of course. I’ll be watching closely. Good luck everyone.
GSC Chart
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Last
20.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $479.3M |
Open | High | Low | Value | Volume |
20.5¢ | 21.0¢ | 20.0¢ | $340.2K | 1.675M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
4 | 174370 | 20.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
21.0¢ | 56904 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
4 | 174370 | 0.200 |
12 | 406237 | 0.195 |
14 | 583206 | 0.190 |
1 | 210810 | 0.185 |
8 | 140762 | 0.180 |
Price($) | Vol. | No. |
---|---|---|
0.210 | 56904 | 2 |
0.215 | 170923 | 3 |
0.220 | 134093 | 4 |
0.225 | 367000 | 2 |
0.230 | 477713 | 5 |
Last trade - 16.10pm 04/10/2024 (20 minute delay) ? |
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