Perfect bounces off of key fib levels. A bounce close to the .618 fib level would line up perfectly with the upper trend line of the channel along with the 200EMA.
GC was not the most volatile stock but was a cash cow pre-covid with great margins and growth.
Will continue to look for great buy opportunities even if we break below the bottom trend line of the channel.
Massive volume spike but not too much of a price move which could be a signal of strength.
Trade active
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Bounced right at the bottom of the trend channel. Potential swing up.
Price action here is going to be key. Momentum remains upwards on the daily if $26.80 is held. I'd like to see us stay above the 21EMA and 51EMA.If we hold then a move up to the 200EMA is very possible, or at least to the dotted trend line.