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.
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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.
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Last
13.0¢ |
Change
-0.005(3.70%) |
Mkt cap ! $303.8M |
Open | High | Low | Value | Volume |
13.5¢ | 13.8¢ | 13.0¢ | $432.2K | 3.249M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
24 | 1108354 | 13.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
13.5¢ | 755326 | 11 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
24 | 1108354 | 0.130 |
12 | 1212844 | 0.125 |
21 | 626716 | 0.120 |
2 | 428000 | 0.115 |
12 | 744855 | 0.110 |
Price($) | Vol. | No. |
---|---|---|
0.135 | 755326 | 11 |
0.140 | 425364 | 8 |
0.145 | 500795 | 10 |
0.150 | 861273 | 9 |
0.155 | 289338 | 8 |
Last trade - 16.10pm 25/07/2024 (20 minute delay) ? |
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