GeneNews Ltd fka GEN (GEN)

[finesand]

support re-tested, reversal candle,
see https://www.tradingview.com/x/bNcIJKll/

(post copied & merged from other board, johnny007 @ stockhouse.com, thank you)

My chart is shown as linked above, RT market data via tradeview and the only cross down, aka dead cross, I can see is on 4/24 50ma x 20ma, not the golden 200ma Sir!
Sure, that was bad, hence we are back at the channel bottom.

I propose nothing to anybody here, just inform you that I see a reversal play going on right now,
since this is the usual channel trading. If you use charts, well - then you should know.

Fundamentally the company's balance sheet is of course quite weak and this is only played due to anticipation that their liquid biopsy testing receives more insurance contracts and/or a buyout.
But hey, 4Q16 was even profitable .. a little bit, that was a great sign of execution, besides the liquidity issues they had. I do expect a great turnaround in 2017.

On another positive note, .30 held today and it does prove support. Especially that over 100k trade, as you like watching the tape.
Yes, it is too early to read the indicators and I play this merely on it's strong support range .29 - .31 for the channel surfing and maybe even good news on the way up.

Further, I have marked 3 occasions in the chart w/ same daily candlestick and the last one had a short 50ma x 20ma 'dead' cross as well, those don't last long w/ this stock's trade. Price and channel bound.

With this .30'ish support we should at least expect a 200ma snap-back, happens quite often. I trade this not only for the bounce, but in the hope that we receive that insurance deal update as anticipated on the way up .. we will see.