gmg, went up yesterday by .7%, small amount but remember this rise is the 5th rise over the past 5 consecutive trading days since the sudden drop that saw the share more than half in value over one day. so far these rises have amounted to some 15%. the rise from the abyss has not been meteoric but rather an orderly one.
the macd sharp drop on the drop of the share price while is tailing off has not quite levelled off as yet. remember macd is a lagging indicator. the forward looking indicators, lead indicators, such as rsi and slow stochs are rising gently from the absolute bottom within their respective oversold territories.
the above tell us there are more rises to come. these would be gentle form of rises. immediate resistance lies at 42, well above the stock's current price level. one would wish to see more substantial propulsive forces in action on this stock, still, so far so good.
avm, yesterday was the 2nd consecutive trading day of no price change. the stock is pausing for a gasp of fresh air after the marathon run it had enjoyed over the recent past, and who would not!
macdm histogram is rising, but the rise is tailing off. meanwhil rsi and slow stochs are falling from the oversold/top of the normal range positions. the 9 day sma has provided a good support/resistance line. combine this with that of the indicators and one can conclude that there are still some downward pointing forces left in this stock, but these are marginal ones of under one penny.
once the stock has stabilised and found support, pls see my report of yesterday on available fib supports, and began to rise again then this would be another opportunity for investors to hitch another ride on the back of this stock. the spreds have not been that bad recently, i saw 2% only as opposed to near 8% in the past. as it is the case with small stocks, the spreads narrow down considerably once the stock trades vigourously.
