lowtrade

[lowtrade]

GTE post update

Started swing yesterday no short cover indicated by CMF. Todays quick retrace showed me cover mostly completed on 2 days of over 2 million shares traded. So IMO over all GTE traders are at balance.

I expect to see new trading patterns to form following new TA indications, for a new up trend, into the SHM & Q2 filing. Could get a short retrace continuation down to my next buy point at $1.80, maybe not. Called for by Aroon & DMI. Also see CMF & RSI at good place for continuation. The MACD & Full stoc indicate Mid term direction to be up move.

My call for a retrace followed by a new up trend is due to the ADX turning and very low level STO & MACD started from.

Don't see new chart pattern forming to indicate any high target, but the strong bottom reversal after the 200/50MA negative cross on AUG 6, with an opposite PPs turn, did confirm the short cover. If the shorts feel the bottom was reached and the company moving closer to major news events, I'd expect them to play this and run into news.

IMO we should break the $2.50 resistance before AUG 15 and hoppefully, after a retrace to $1.80. Which will create a double bottom signal for the resistance break. That would leave GTE PPs set perfect for a strong up trend reversal, on a suprise from management. The perfect storm thing, I'd love to see, chart pattern, TA, and suprise news all happening off a double bottom.

Lets watch.