Grifco Inc (GFCI)

[cyofish]

Trading for dummies part II a.k.a. remedial trend analysis.

Stocks don't trade in a straight line usually it trades within a resistance/support trendline. Grifco has been trading consistenly within a down trending channel. Every week the support goes lower and lower, and the resistance goes lower and lower. One green day moving up 1/2 is followed by a red day. Today it's traded near the top of the channel (resistance). Until GFCI can break through the resistance and score higher high on a consistent basis there isn't nothing to be overly optimistic about. Thus far, Grifco still haven't shown any signs of the trend reversing.