Larry, I know you are hanging around this thread, ready to pounce, like a mountain lion on its prey...If only I could get you and Richard convinced that Jensen is now taking the final steps to get this company into production....Look, the management of GPGI is meeting with some pretty intelligent people in the next two weeks...I would say they will be attempting to accomplish 3 things...
1) Get financing into place without destroying the little guys like Jack, Dennis, and I....
2) Get the GPGI name out to the public properly via a respected newsletter writer...
3) Fine tune the process by listening to the Zeev's of the world...
Now, even though I hate to go against Master Zeev, with one of the famous Zeevian principles,(stocks that can't do an outburst from resistance areas, but simply churn with high volume, smacks of distribution)I am saying the answer comes Monday...Here goes:
GPGI is now in a steep ascending triangle formation...It has broken out above the overhead resistance in the 2.18-2.38 area...Now, the answer we are looking for...Is this a false breakout or the real thing?? If we have follow-through on Monday and the stock closes above 2.50, the breakout is real....However, as many of us know, false breakouts abound in the market...But my money remains on a legitimate breakout...Measuring the neckline of GPGI to the base of the Head in the Head and Shoulders Bottom, I have an initial short-term target of 3.41...You measure the base at 1.50, and subtract it from the neckline at 2.50....Add 1.00 to 2.41 and you get the price of 3.41...
My Accumulation-Distribution indicator displays definite accumulation on this stock...My Commodity Channel Index is giving a reading of 150...It just crossed over 100 on Friday which is very bullish...
My MACD Indicator turned positive on Friday at 0.05 by 0.0396....
False breakout or not??? Find out tommorrow at the close.....Regards, Mark
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