GEVO Holders <link back Chart> Friday was disappointing to me in the afternoon. It had decent volume but, buying dried up in the afternoon and shorts/profit takers took over hence selling at market many times.
***Sorry for what appears now to be apremature
"Alert" on Friday. In hind sight it was more of a "veryyy strong watch", and still is.
Imho a better alert should be triggered by a "close" or "open", not as much intraday. In this case, a close higher than the upper northern triangle leg and on good prorated volume, equal to, or more than the 20MA.
(See my link back chart on this post for this).
**Since it closed very, very marginally red Friday <.40%>, but still had a higher HOD @ 2.75 than Thurs's. high, imho there are now 4 primary courses of action. (Not in any particular order), for us holders jmho.
4 potential Choices imho:
1. Exit, due to the SP close not holding above the northern triangle leg, and finishing .04% lower than the day prior close. Result is a small profit to tiny loss
depending on Tues. trading and timing.
Our dilemma with this choice is:
1a.)( it also had a new higher SP vs prior day's high)
1b.)It started to eat the gap above 2.61-2.75, until some profit taking/shorting occurred in the afternoon. Imho indicating that on good buy volume it could again move north. If the shorts are forced to cover that will propel this SP up and further fill the gap, while obviously selling volume produces the opposite result.
1c.) We know most gaps fill over time and we are seemingly just on the cusp at the 2.61 area.
1.d) An ascending triangle pattern also comes into play. It many times has a decent probability of success. Now we need new higher highs and new higher lows.
Choice #2. Continue to hold and wait for a violation of the triangle legs. *Then either hold if the northern leg is violated by SP on volume **at a close or open, **or exit if the southern triangle leg is violated. Then exit at some point.
Choice #3.Continue holding on a strong watch. Wait for thenorthern triangle leg to be violated by: decent vol, and **on a close or open **then add.
Choice 4 exit then wait, and then reenter, if #3 highlighted northern condition occurs.
Imho the above is what I am considering. Whatever you do keep stops but I suggest you use the ATR to help determine them.
Good luck to us and again sorry for the premature Alert jmho and a SWAG.
T2M
