GRK 0.00% 0.2¢ green rock energy limited

"give it a few years"Is that necessary? The following chart...

  1. 1,843 Posts.

    "give it a few years"

    Is that necessary? The following chart shows a 100% retrace of the previous rally to a support level that should, in theory, be relatively strong. Note the stock is oversold on the RSI for the third time in its trading history. The previous movements into oversold territory were immediately followed by a 125% rally and an 85% rally, respectively.

    Past movements have seemed to track within the fibonacci fan channels quite closely, finding support and resistance at the fib retracement levels. The stock is now at the 100% retracement level, also marking an all time low.


 
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Currently unlisted public company.

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