Hello fellow reader
I'm posting my second idea on Gfinity. I feel the first lacked the proper quality and did not tell the story as I had in my mind.
Please let's start over.
We can see there is a clear uptrend from March 20. We can see the share price almost zigzags along said trend.
We can also see the high on 26 Jan 21. I'm unable to have RSI set up on my chart but at this point it is at 77, suggesting overbrought, or upward momentum.
Onwards, we can see support was established at 4.7 to which eventually broke, particularly today where the SP fell >8% on relatively high volume.
However, the next couple of days will be crucial, as we may see a repeat of the previous bounces against the positive trendline support. Using the Fib retracement, I expect some pullback to 4.8p. If the bulls play, I have a target price to roughly 7.5p afterwards.
If the positive uptrend fails to hold as support, then this could be a bearish signal, as it will be the first time the trend does not hold.
Let me know your thoughts.
I'm posting my second idea on Gfinity. I feel the first lacked the proper quality and did not tell the story as I had in my mind.
Please let's start over.
We can see there is a clear uptrend from March 20. We can see the share price almost zigzags along said trend.
We can also see the high on 26 Jan 21. I'm unable to have RSI set up on my chart but at this point it is at 77, suggesting overbrought, or upward momentum.
Onwards, we can see support was established at 4.7 to which eventually broke, particularly today where the SP fell >8% on relatively high volume.
However, the next couple of days will be crucial, as we may see a repeat of the previous bounces against the positive trendline support. Using the Fib retracement, I expect some pullback to 4.8p. If the bulls play, I have a target price to roughly 7.5p afterwards.
If the positive uptrend fails to hold as support, then this could be a bearish signal, as it will be the first time the trend does not hold.
Let me know your thoughts.
Bình luận:
Major breakout. Bullish. Go long. (Or buy)
MACD crossing and positive.
I did not want to spam TradingView with Ideas if no-one is commenting. And it doesn't seem possible to provide a chart update here which is weird.
Short term target 0.786 Fib level, then 1. Let me know of your comments.
Please like and follow if you agree. If not, leave a comment. Thanks.
MACD crossing and positive.
I did not want to spam TradingView with Ideas if no-one is commenting. And it doesn't seem possible to provide a chart update here which is weird.
Short term target 0.786 Fib level, then 1. Let me know of your comments.
Please like and follow if you agree. If not, leave a comment. Thanks.
I still believe in the company however, so could be a good opportunity to buy if you believe also.
(NB, why can't I update the chart?)