Bear markets (which is what GDN is in) have rapid spikes or...

Bear markets (which is what GDN is in) have rapid spikes or countertrends on the way down. It's basically the phenomon of the move down temporarily becoming exhausted and sideliners jumping in thinking they're going to miss out on something. Normally, nothing fundamentally has changed and the down move soon continues.

Expect the unexpected. Just because the share price hit $1.20 doesn't mean it's cheap at current prices. If it keeps rising that's great news for holders, but it's a low probability trade to enter on the long side on this price action.