Nice read, thanks tekboy.
Technical blah blah blah to follow:
Setting up nice for a cup & handle breakout. Pivot price about $79-80, volume on breakout should be 6-7M, and next parking spot sitting right around $99-100 range.
General market will set timetable. If correction in Aug-Sep, then GMST bases with breakout after correction is over, otherwise it will power sooner than that.
Classis, textbook cup & handle, MACD strongly remaining and reversing at midpoint (zero line), Stochastics rebounding, Williams %R coming off selloff. This is the stuff dreams are made of for T/A nuts.
Pure breakout play would wait until stock breaks out at $79 range on large volume of 5M+, and execute limit buy order at $1/8 above pivot point. Sell rule would be 5-8% below buy point if breakout fails, otherwise run it to $100 range for quick 20% gain.
Just my 2 cents worth, that is if my play was a 20% gain on a 10 cent investment in GMST :o)
Liking what I see, best to GMST longs
Regards, JB |
