I'm hoping that the descending wedge patterned formed over the past 3 months indicates a reversal is due... From Google; A descending wedge (also known as a falling wedge) is a bullish technical analysis pattern indicating a potential reversal of a downtrend. It forms when price action converges within two downward-sloping trendlines, with the resistance line steeper than the support line. This narrowing range suggests decreasing selling pressure and a build-up of bullish momentum, often leading to a breakout above the upper trendline.
Looking for a breakout around $1.40 which is where the top of the wedge currently is and the 50SMA.
MACD underneath has been rising for 3 months whilst the price has been falling. Positive divergence, another positive sign.
Shorts (currently at 13%) will be keeping a close eye on this surely.
GLTAH
PLS Price at posting:
$1.25 Sentiment: Buy Disclosure: Held
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