Spewing I missed out on dipping in when GNC first caught my eye at $7.40. Strong bullish trend.
Long time frame inverse head and shoulders forming?
Won't be dipping in now, prefer to get in when stocks are weak. Will check back into GNC in a few week's. Let's see how it performs against the magic big thick white line I've drawn out.
Price crossed both is 30 day moving average as well as the MACD crossing up which are both reasonably bullish signals.
Could be worth a closer look and doing some research.
Graincorp Ltd (GNC) ended its 7-day losing streak yesterday with a gain of 1.61%. Since 2000, 7-day losing streaks that ended with an 8th day gain of greater than 1% usually led to higher prices over the next 10-days.
Looking forward 10-days, GNC, provided an average gain of 5.42%, win rate of 4 from 5, standard deviation 5.71%, maximum 12.14%, median 7.83%,...
Friday marked the 7th consecutive down day for Graincorp Ltd. Interestingly, last week, Morgan Stanley downgraded GNC from overweight to equal-weight. However, this 7-day losing streak has failed to take the price below the 200-day moving average. Similar types of pullbacks above the 200-day moving average have usually manifested to the upside, with an average...
Text me if you have any questions/comments for me.
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GNC
- First time doing a written analysis on GNC
- Stock is currently trading at a resistance that was formed during the height of last year’s pandemic crash (purple dotted line)
- Since then, the stock has had more sideways consolidation interspersed with uptrends that last for a few weeks
- Stock is...
I like the chart pattern here,
technical indicators such as TD Sequential, RSI, MACD are showing signs that bulls are still in control and more upside to come in the coming days/weeks.
ENTRY: 4.67
TP1: 4.83
TP2: 5.18
SL: 4.45
- ADX<25. Would like to be higher.
- RSI>65.
- FFI and RS +ve
- Daily, Weekly, Monthly MACD +ve
- MAs are aligned. 10MA below 40MA but pointing up
- Broke up down-trendline on 9 Feb 2021
- Break up HVN (4.48) and resistance (4.65) today
Looking at a top down approach with the staples sector it looks good for run up, with a nice pull back to 13 and 20 EMA. This is why i'm looking to buy GNC, it has hit new month low on support and its below the RSI level of 30. therefore this stock has been smash to the downside, looking to counter trend this stock for the rally.
