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Re: BigWill post# 20

Monday, 02/22/2010 6:09:01 PM

Monday, February 22, 2010 6:09:01 PM

Post# of 408
It doesn't look like the newsletter had a positive effect on today's trading! But here's what I think based on the chart:

http://stockcharts.com/h-sc/ui?s=GNXP&p=D&yr=0&mn=2&dy=0&id=p72346723524

1. The stock is in a nice, steady, defined uptrend-- higher highs and higher lows since January 20.
2. It's had horizontal support at $1.14 for the last seven sessions.
3. Tomorrow the trend line and that support line meet.

So the next day or two should be telling. If the price bounces up off of support-- which it held nicely today-- then the stock may be headed into the $1.40's over the next week or two. Otherwise we'll see if it holds the next old resistance at $1.07 or so.

As far as whether the share price will get "driven out of reach," your guess is as good as mine. The engineering information on the company's holdings does look positive, and they've got money to explore them-- which is more than can be said for many junior miners.

Anyway, good luck!