Wednesday, September 14, 2005 2:10:09 PM
GMCI ! Here is my chart of GMCI, note that this is a daily chart and things are very quiet right now..
I will not say much here and just let the chart speak for itself..
I have NO IDEA if news is coming on 9/15/2005 as rumored... but either way, the chart setup still looks good from here on GMCI based on huge 400 million volume spike a few weeks ago AND the chart pattern HOLDING a range between .0004 and .0003 !
IF THIS WAS A BEARISH CHART, THEN GMCI would have BROKEN DOWN below .0003. BUT IT HAS NOT so FAR. Therefore my interpretation is HANDS DOWN BULLISH as of this posting.
Sometimes in chart reading you have to read between the lines and look at what a stock DOES NOT DO. The fact that we are holding this range shows accumulation to me for the next level up which could be blue sky.
I will not say much here and just let the chart speak for itself..
I have NO IDEA if news is coming on 9/15/2005 as rumored... but either way, the chart setup still looks good from here on GMCI based on huge 400 million volume spike a few weeks ago AND the chart pattern HOLDING a range between .0004 and .0003 !
IF THIS WAS A BEARISH CHART, THEN GMCI would have BROKEN DOWN below .0003. BUT IT HAS NOT so FAR. Therefore my interpretation is HANDS DOWN BULLISH as of this posting.
Sometimes in chart reading you have to read between the lines and look at what a stock DOES NOT DO. The fact that we are holding this range shows accumulation to me for the next level up which could be blue sky.
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