Genta, Inc (fka GNTAQ)

[deadjim]

http://fibotrading.blogspot.com/2010/02/geta.html

I, like many traders, attempt to buy lower, and sell higher. GETA is a fine example of a chart with enough support to be considered for a bounce. Given GETA's pennystock nature, TA is by no means 100% accurate, nor is it on any stock, however, if you follow my strategy of NOT taking a loss, this is an easy, easy play.

So where do you buy?

You would BUY IT DOWN HERE.

This is a pretty obvious play, imo. You can't go wrong.

The strategy:
Take your original typical trade amount, split it into a quarter, and buy anything around .10
Wait for a signal
Signal 1: A move toward .14, a possible break, and then a dip toward .10 support.
Signal 2: A gap down plus a huge volume spike (Preferably at .01, where .01 represents the extreme low point at which speculators enter a trade

Once you get this signal, you buy another quarter of the position. A break of support of .07, a gap down to .01 and a spike to .05, even .03, GETA would easily represent a gain of 300%-500% on the 2nd trade, eliminating the loss from the original .10c trade.

Targets:
If .10 is SUPPORT and holds, .19/.20 is the first target, which has already been tested. TAKE PROFITS HERE. One must assume that the next bearish bounce will be .28 (see the fibonacci retracement). A test of .35 will signal a further breakout down the road. However, you don't care where it will be 5 months from now. You want to take profits at these targets! You can always buy it back, trust me. This thing isn't going to .41 anytime soon

I've laid out a few charts. The hourly chart still shows weakness still and is not a definite signal for upside. Support around .10/.07 should still be maintained on any downside.
The daily chart shows potential targets and where this practically dead stock should bounce
Notice the long consolidation on the daily and the rising RSI, signalling upside.

Easy play here, folks, if you follow my strategy. Any questions?


http://fibotrading.blogspot.com/2010/02/geta.html