Here is my take on the current activity from a trading perspective.
Today was a better day volume wise - but overall still pretty low. With only 17.6million shares traded for a net value of around $1.15 million. Its pretty tough to attack this thing with absolute gusto when the volumes are still sluggish.
To give you an indication - I turned over approximately 10% of todays volume in a mix of buying and selling. I run a mix of both medium term positions and short term positions, so I am constantly watching volumes to manage my short term trades. I sense a few others like me are waiting for a couple of others to join the party before this stock can move any further.
To me volumes of at least 40million on successive days will be required to get GDN into mega stimulation mode.
From a technical point of view we also had the GAP at open which did not help invite the punters to the party. My Kind don't like Gaps in the chart, so it was important to see it touch 6.5cents again today. As there is a a few million to sell around the 7 cent mark the chart should stay in tact even with further good news. The short term moving average is moving closer to the medium term moving average on my chart which is also another case for decent churn on the horizon.
To move GDN higher the news flow must remain constant and positive. If it does then the cumulative effect of the technicals, fundamentals and realm of expectation will take care of the rest.
If 7 cents goes on decent volume then I see 8 cents as a spot to have a cup of coffee only as it should get toppled pretty easily.
IMO DYOR
GDN Price at posting:
13.6¢ Sentiment: Buy Disclosure: Held
