GXL taking a big hit Down over 11%, page-162

GAP on chart btwn 6.50 and 6.00 was closed on the dwn move...Volume was v v high on this recent up move...hopefully it can go beyond 6.50-6.60 and onto $7 based on chart indicators momentum...it looks like its turning...and yes it looks like we hit a double bottom effect...remember Fibonnacci wise theres that range btwn 10.00 to 5.00 and the 50pct retracement is $7.50; The 38.2 pct level of the range is circa 6.90- $7.00; The 61.8 pct fib level is $8.00-8.10. If we indeed did reach a 'double-bottom' , then ud think it can go all the way back up on the 5.00-10.00 range over time , but wed need a good strong bullish market; In volatility id say $7.00 to $7.50 are KEY points that need to be broken for a true uptrend to start; The Long term chart suggests around $7.50-$8.00 theres a key level that needs to be broken for the trend to continue thru to the top;

This could based on momentum go to $7.50-$8.00 if the first fibonnacci lvl of circa $6.90-$7 breaks, it can go to the 50pct 7.50 , then the 61.8pct lvl at $8

But lets not get ahead - $6.90ish- $7 is the next key level.

Historically tho this stocks Volatility measure is High, meaning that the probability of hitting these levels is higher ie the Variance of weekly/monthly prices away from the avg mean price looks quite high...so I wouldn't be surprised if 7-7.50 gets hit

Then again, this is all off the top of my head...