Thanks Tony, I appreciate the support.
In looking at the weekly chart, since this is in a long term account, GT offered a couple of great buying opportunities over the past year.
I look for the 20 period moving average to be above the 50 period moving average and a comfortable distance between the two. When this set up appears, you can often look for good buy set ups. For those who are aggressive traders, it could have been bought twice off the 50 week moving average.
I'm more conservative and bought as price rose above the 20 week moving average. I'm up 26% so far.
Weekly chart:
stockcharts.com[h,a]waclyiay[d20040405,20050805][pb50!b20!f][vc60][iut!Lah12,26,9!Lc20]&pref=G
The daily chart shows a nice gap up today on huge volume. Today's price action actually saw accumulation by the institutions which should help the stock over the longer term.
Daily chart:
stockcharts.com[h,a]daclyiay[d20050505,20050805][pb50!b20!f][vc60][iut!Lah12,26,9!Lc20]&pref=G
Those looking to enter for a short term trade might look for a 3-5 bar drop in the coming week or two for an entry.
dabum |
