Gib Cap Group Inc (GIBX)

[SPM555]

Beautiful daily and weekly charts, here's a link to the weekly.

http://i40.tinypic.com/jb5hqq.png

-You can see the green trendline which has been holding down the price for about 4 years now. Trendlines are generally rough estimates opposed to precise points, but depending on how you draw this one you can even say that the price has now come back down and tested it successfully for support.

-The green zone is major support at this point, and look at where it is in relation to that run-up in Feb 09. Under most circumstances, a sub penny stock that's in such a downtrend and rallies that hard will give back most, if not all of the gains. That move in Feb put in a definite floor, and that green zone is the area where the vast majority of the volume has been at (look at vol by price on a 1.5 year daily chart to see this). Trading above that is incredibly bullish on this time frame.

-The red zone is where the price got knocked down last time, and where there's very likely to be more resistance. What I'm looking/hoping for is a move into or even above that range, then consolidation before it breaks out to new multi-year highs.

-Price closed above the upper bollinger band on both the daily and weekly charts. We've had a couple of fakeouts on the daily chart in the past w/ the price closing above the upper band, but not with such a nice overall chart. The weekly on the other hand isn't as likely to juke you, and the last time we had this same bollinger setup on the weekly it ran for 2 months. I think this overall setup is better though, but we'll see.

Last thing to mention is the volume, which obviously needs to ramp up, which I think is exactly what's going to play out. GL to everyone and enjoy the weekend.