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GFA is forming a possible fallen angel formation. It had a huge decline & now seems getting some upward momentum. We think it has good upside potential if it can break above $7.07
* Trade Criteria *
Date First Found- June 13, 2017
Pattern/Why- Fallen angel pattern
Entry Target Criteria- Break of $7.07
Exit Target Criteria- $9.63
Stop Loss Criteria- $6.33 & ...
As we inch in closer to the Olympics I've dug out one of the biggest property developers in Brazil to see where it could head.
Broken out of long term bear trend line (red) and shorter term (black)
Put in a higher high this year
Long term downtrend. Bearish pinbar off a potential selling zone.