I'd beware of large traders manipulating the stock also putting...

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Batcher1

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12/03/19

06:26

Post #: 37727222
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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'd beware of large traders manipulating the stock also putting fear to existing and new potential holders!
Dyor!
MC 55 mill
any good results these prices will be retested!

GLN Price at posting: 49.5¢ Sentiment: Buy Disclosure: Held
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(20min delay)
Last 14.0¢		Change 0.000(0.00%)		Mkt cap ! $60.50M

Open	High	Low	Value	Volume
14.0¢	14.5¢	13.5¢	$232.3K	1.669M

Buyers (Bids)

No.	Vol.	Price($)
23	2178553	13.5¢

Sellers (Offers)

Price($)	Vol.	No.
14.0¢	746751	10

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 - 16.10pm 22/11/2024 (20 minute delay)

GLN (ASX) Chart

I'd beware of large traders manipulating the stock also putting...

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Buyers (Bids)

Sellers (Offers)