GG - Goldcorp -

BATS:GG   None
I added a new forecast onto the old commentary of GG from this past fall when I pointed out that GG is a trading stock and not a stock to buy and hold. So far the recent selloff has started the snowball rolling down the mountain from my perspective. I could see a slow, grinding decline through until summer. The "point of maximum optimism" is a price pattern that creates a lot of new highs in the shorter term, but as you can see, failed to make an all-time new high. So, what this pattern does is set-up the bulls to just hold onto their shares as the price slowly declines. I will look to enter shorts up another dollar and risk 3 times the average daily range. Cheers. Technical Tim, Mon, Mar 5, 2012 3:14PM EST $47.74 last.

Subscribe to my indicator package KEY HIDDEN LEVELS $10/mo or $100/year and join me in the trading room KEY HIDDEN LEVELS here at TradingView.com

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.