Charting, page-127

GLN Daily
Positives
Very few positives on the charts atm however it appears that the bottom could be close.
Stoch 5 & 14 are very overbought now but are now moving back to their sig lines.
The rising trend line around 25 may provide support & a pivot point for a rally.
The close was in the upper half of the last bars range & closed at a projected trend line.
Volume has dried up and the last two bars has been low
Support is around 23 – 25.

Negatives
The chart looks very negative but the worst appears to be over.
The potential downside target to meet the rising trend is around 22 – 23. If that fails then 18.5 will be next.
My model has a downside alert from Fridays close. ( the potential for a lower low than the last close)

Weekly
Positives
Few & far between on the weekly.
The Stoch 5 is now very wide from the sig line
The stoch 14 is very wide from the sig line

Negatives.
The Stoch 5 has crossed its sig line & trending down
MACD is moving back to its sig line after peaking
Histogram is returning to zero
Close at the low end of the bar
The major projected trend line supports failed to hold.
My model has a weekly downside alert sig.

Outlook
With the close at the low end of the bar and the indicators only just starting their declines it looks likely that the sp has further to fall.
The rising (green) support line may provide a pivot point (around 23) but without positive updates there will likely be a period of consolidation & potential low of 18.5.
With the first drill results appearing to be nothing short of spectacular I find it hard to believe that GLN wont have a counter rally to test 45 in the short term.
I would be waiting until the indicators have turned up first though as it is still not time for an entry imo.