GTEC - I have been bullish on GTEC for quite some time. Mainly because of the insider buying that has occurred since December. Overall in its current state, I am more neutral bullish until this consolidation period is done. Chart to me is shaping up for a move but could consolidate further before a decision as to which way that move is to go. On watch!
As we can see GTEC had to retrace after it's run, and the time for a reversal as arrived. We can see a bullish divergence forming on the RSI and MACD Histogram. Let's see what the bulls will do this week. A push towards the yellow line (100 ema) would be very nice !)
A little update on the GTEC stock.
Our MACD shows us a Bullish Continuing Divergence, which is a bullish sign. This combined with the 200 ema being close, I'm expecting a bounce off from that 200 ema located at 1.08$. This might be a very good entry point in my opinion, but, if you are entering I would choose your stoploss carefully.
As we can clearly see, GTEC's price is in a bullish channel. With a Hidden DIvergence in the MACD, it could be possible we will soon see a run-up.
This Hypothosys would be cancelled if we break downwards from the channel.
Update on Status of Sales License and Other Operational Updates:
GTEC Provides Update on Status of Sales...
We have insider Information that Diageo is indeed in talks with Gtec Holdings. Former Global GM of Diageo plc. Mr.Lawrence law is in direct talks with Diageo to merge operations for their premium branding division. This merger, (when announced) will have a multiple effect on shares for GTEC Holdings. Our current price target for GTEC holdings stands at 6.50$ per share.
Gtec Holdings is in serious need of volume as price supports higher share value. Good news, Higher Highs and Higher lows should continue with a new bullish wedge from my last report. Subsequently, without the necessary volume the share price will remain range bound for the time being. My recommendation is to hire a publicity company to get your name out there....
Volume has dropped off substantially, while maintaining SP. RSI remains in oversold territory with a bump up in target to 48 points on the Daily chart anticipated in the short term. AO showing bearish reversal, strong bull in the coming days. Indexes (TSX/MJ) look to be providing near term support. Break out from the exp. ribbons would show a bullish recovery in...
Average Mean Price for today: .95$ per share (Yellow); 1.05$ per share by July 20th.
Range bound high/Lows for today: .84$ per share to 1.04$ per share; .91$ to 1.11$ per share by July 20th.
Major Supports: .90$ per share
Major Resistance: .95$ per share
Trend analysis is bullish from current SP.
Stock pulled back from short term highs and is beginning to consolidate, range bound - .72 - 75$ per share. 52 point indicators show stock has pulled back into oversold territory. Wave analysis shows sp below moving averages giving credence of a likely bullish increase, short term prospective. Forward looking statement. expect consolidation and gap up before...
Stock is continuing its bullish pattern with higher highs and higher lows. Bullish wedge forming with a gap up/breakout likely in the near term. Company has outlined plans and is delivering on such plans. Fundamentals (52 points) show low chance of bearish reversal. Writer recommends buying on the dips as GTEC is poised for further gains.
Stock is breaking out of a prolonged consolidation period with considerable short term gains ahead. Price momentum is bullish with a short term spike capable of reaching 1.43 - 2.41$ per Share. Technical data is showing am median target of 1.96$ per share in the near future. Coverage on GTEC Hldgs Ltd.
GTEC Holdings Ltd. engages in growing, marketing and retailing cannabis in Canada. The company was founded by Norton Singhavon and Michael Blady on June 12, 2018 and is headquartered in Kelowna, Canada.