Alright ! Been sheepish today and sold at 54.5c. Not my best move!
I was bullish, however the lower open made me think about the long slow slide down we had in May.
I'll be around for another entry point on an update or a reversal. I'll try to update a chart (because after all this topic is called chart), but I can see a negative divergence at the last peak at 59.5c and the double top we talked about. These were signs of a down trend, however we all had our eyes on the results.
Too early to talk about what is going on right now, but I suspect a lowish momentum now after the craze of yesterday. Maybe the negative divergence is still viable ?
Also, as Gillys pointed out, a lot of new people asking about direction of the trend on the forum.
I am sure institutions jumped in the train yesterday, but so did retailers. And if the stock doesn't continue its uptrend, they may get scared/disapointed and push the price lower, impatient to leave, which in its turn, scare more people out of their position ... and so on !
So now I am not as bullish as was yesterday on the short-medium term.
Long term should be fairly good.
However, my strategy isn't oriented to long term holding
GLTYA. I'll be around the corner.
NEA Price at posting:
56.5¢ Sentiment: None Disclosure: Not Held
