Hi Rudi.
First off, let me tell you that I have GBLX shares (freeriding) so you might not get an un-biased response <g>.
I love what GBLX has done to strengthen their business with the latest merger. They are in a good position to be a (if not "the") leader in broadband transport, and the fundementals of the company look great. As far as the P&F chart goes, it's run up against its BRL (a line of resistance) and come back down several times now (bearish)...and it has had a series of rising bottoms (a bulish sign), so it's hard to visualize what it might do in the short term here. Here's what I would do...
First, if it falls a little more, say to 33, but doesn't drop to 32, that would be good...I would take a bullish outlook. If it falls to 32...that would be a sell signal, and I wouldn't buy-in until a buy signal (a reversal) is seen.
But lets say it rises a bit. If it goes back up to 37, that would be a double-top break and a buy signal...38 breaks through the BRL, and is very good.
The bottom line is to watch it right here. If it hits 37, buy, if it hits 32 don't even consider buying (yet).
That's just how I would do it, and it's just my opinion.
909's,
-Joe
<edit> palindrome |
