After recapturing its 200 DMA last month (May), shares of GENERAL MOLY INC - NYSE:GMO have found themselves in consolidation mode on lower volume for the past month as is evidenced in the daily chart above.
With the stock trading just beneath its 20 DMA, yet comfortably above both its 50 and 200 DMA's, GMO remains in relatively decent shape from a technical point of view.
Furthermore, when extending the time-frames out to both the Weekly and Monthly durations, GMO also looks to be in fairly good shape from a longer-term perspective and may just be seeking to move up-and-out of its multi-year base.
While further work remains, both investors/traders may want to continue to monitor the action moving forward as we suspect that should the entire metals landscape heat-up in earnest, GMO may just prove to be in the early innings of a powerful move to come, particularly for those investors with a longer-term time horizon, while in the short-term, it would not surprise us the least if we were to see a double from present levels.
With the stock trading just beneath its 20 DMA, yet comfortably above both its 50 and 200 DMA's, GMO remains in relatively decent shape from a technical point of view.
Furthermore, when extending the time-frames out to both the Weekly and Monthly durations, GMO also looks to be in fairly good shape from a longer-term perspective and may just be seeking to move up-and-out of its multi-year base.
While further work remains, both investors/traders may want to continue to monitor the action moving forward as we suspect that should the entire metals landscape heat-up in earnest, GMO may just prove to be in the early innings of a powerful move to come, particularly for those investors with a longer-term time horizon, while in the short-term, it would not surprise us the least if we were to see a double from present levels.
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We are not financial advisors. Always conduct your own research and read our full disclaimer at insiderfinancial.com/disclaimer/
We are not financial advisors. Always conduct your own research and read our full disclaimer at insiderfinancial.com/disclaimer/