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Generalrelativity

13,236 Posts.

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12/03/19

10:44

Post #: 37730009
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Originally posted by seagull: ↑

Unfortunately as I have found at my expense, ignoring the charts & the statistics is never a good idea. Nothing goes up forever despite the best fundamentals and announcements so this pull back is no surprise.
I said in my previous posts that the time was not right to enter but would be soon.
IMO & it is only an opinion, the time is still not quite right but is very close.

Historically most gaps close.
At this stage there are still two open “outside gaps” below.
# 1 is 43.5 – 44.5. I believe that this one has a very good chance to close.
Today’s low & pull back was to the 61% level as measured from the breakout point at 33.5 – 34 (which has already been retested) so that (today’s low) might be enough to provide a floor for the inevitable counter rally.

# 2 is at 31.5 – 33.5 & I would not be so sure of as like you say it was from another time in the history of GLN. It is also the break out point of the 9 month trading range (18.5 – 33.5)

So will the sp come back to close gap #1 at 43.5 – 44.5 or not?

Statistically it is highly likely and that is where I would say is possibly the right place to try & enter or re-enter the game.
That level is just below 61% of the move as measured from the breakout point at #2 and 50% of the move measured from the low of the previous range (18.5)
It is also a previous major resistance so should now be support.

It looks like a good time to sit back & wait a bit until things settle & the indicators look a bit more favourable.
An entry at the 50% level could be worth thinking about

This is only my opinion & not advice.
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I KNEW Youd be on here somewhere GPa !!!

Silly Gr still hasnt learnt from Ur gap lesson has he !!!

Looks like its coming back to follow the original trend.

Still, 60M Market cap is going to be silly if they do come up with 2M plus Li resource.

Gr

GLN Price at posting: 45.5¢ Sentiment: Buy Disclosure: Held
2 Upvote

0 Great analysis

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(20min delay)
Last 12.5¢		Change 0.000(0.00%)		Mkt cap ! $60.50M

Open	High	Low	Value	Volume
12.0¢	12.5¢	12.0¢	$505.1K	4.082M

Buyers (Bids)

No.	Vol.	Price($)
25	2036866	12.0¢

Sellers (Offers)

Price($)	Vol.	No.
12.5¢	100347	5

View Market Depth

No.	Vol.	Price($)
1	50000	0.115
7	472031	0.110
11	947628	0.105
25	1490999	0.100
2	20000	0.099

Price($)	Vol.	No.
0.125	1573785	9
0.130	254710	7
0.135	293280	3
0.140	225541	3
0.145	344396	6

Last trade - 15.58pm 28/11/2024 (20 minute delay)

GLN (ASX) Chart

Charting, page-56

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