Agreed Blade. I think likely this week we bounce.
Based on the 5ma being about to test the 10ma and the MACD line about to test the signal line, I see these holding support given the nature of this ticker and the potential gains to be had in two weeks or likely less. RSI has reset now back in the low 60's and accumulation remains unfettered at a hair under all time highs from just a week ago.
I think the week ahead should show us what GMNI is made of. Traders have to decide whether to hold and perhaps add to their positions ahead of the custodianship hearing or sell and pray this thing dips so they can get back in shortly before the 18th hearing date.
I'd say gambling that she will dip enough to make it worthwhile to sell and look for re-entry in another week or so is a bad idea. My belief is that most will arrive at the conclusion that if the stock was going to experience any significant dip, that it would have already occurred given that the news of the custodianship hearing emerged over a week ago, and since there was no parabolic run to pennies, they now know they would have to hold until the next round of accumulation occurs ahead of the hearing, or dump fearing others would do the same, but no selloff occurred. Therefore I see the 30 range holding and then possibly an even bigger move coming to the upside that should begin in the next week depending on when the panic buying begins forcing more capital to come flooding in here.
Just my opinion, but I would highly recommend anyone holding and on the fence to simply continue holding, and those not in yet, to be ready with their fingers on the buy buttons because the uptrend will likely resume this week.
Just MHO.
Best,
Neo
ps- Happy Memorial Day to all!
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