gtel

[squidkid]

Any thoughts on today's action.

Gap down hammer?

[DJF]

Looks like a "stepping stone" downwards. Each rally comes on decreasing volume and is pegged back to the start (and then lower). I don't think the current decline will behave any different. MACD is weak, although slow stochs [39,1] did make a new high - can this be viewed as bullish? Possibly, but don't be afraid to jump ship if it doesn't rally in the next few days.

stockcharts.com/gallery?GTEL

DD as always,
DJF

[squidkid]

Somewhat of a rally today. Weird how the volume was so lght.
Some news came out about launch of one of their main products.

The candle looks similar to the bearish inverse hammer you called on the nasdaq today. Maybe it sold off with the overall markets this afternoon? Or yanked down for that reason

Any thoughts..

btw I'm not really daytrading this one..just "paper" daytrading.
I have a long-term position in this one

TIA

[DJF]

Today was much better day than the NASDAQ had. Watch for follow through in the morning (first half hour of trading) - if it can keep its gains and break beyond todays (Wed) highs then it could start a nice little run. Kudos on noting this yesterday.

DD as always,
DJF

[squidkid]

Fallond..

I believe it's the 16th when you change around your public chart lists.

Would you consider adding GTEL to the list, and continuing with GZFX

Thanks
Your charts rock! ;o)

[DJF]

I delayed last months a little longer as I was away for most of the month. Doing updates to the list at the start of each month. I'll add GTEL to the end of this month and if you need to keep it on, simply post to the "Request for stocks for July 1st" under the "Please Read" thread.

Best wishes and thanks for the support.
DJF

[squidkid]

Sweet, Thanks

I'll post it up

I plan to be long this one for awhile. I think they have a bright future.
A big part of it will depend on the launch of their new technology, stratelites, first launch will be sometime this summer I believe. If all goes well, and i believe it will, then it could be a nice ride.

[squidkid]

Hey Fallond.

About your public chart list, gtel..recently the stochs had broken top resistance and you marked it a breakout.
But now it shows stochs bouncing off that line.

What happened?..thanks

[DJF]

Bull trap - breaks resistance then reveresed back below it. The 200-day MA is the next test on the way down ($0.088).

stockcharts.com/gallery?gtel

DD as always,
DJF

[squidkid]

Hey Fallond.

Didn't realize you were switching lists again ;op my bad

I noticed you left gtel off.

I was wondering if you still had room to throw it back on or if i'm out of luck until next month.

ty

[squidkid]

Question on possible breakdown target.

We're testing support again and this tirangle looks to be getting squeezed.

I've read how you usually assume a target, but that would take this stock down to about 1 cent, no? I don't really buy that. But this is a mircocap, they move weird

It says these triangles are usually continuations in downtrends, not tops in a market.

Any thoughts?
TIA

[DJF]

I think the breakdown will take it to the next level of price congestion (between $0.04-0.05) it doesn't look like $0.08 support will hold.

DD as always,
DJF

[squidkid]

Awesome. I was thinking .05 too

That's around where the 30sma monthly is
I've been raising some cash instead of buyng in more at .08 support because I think it's coming down aswell

Thanks for your thoughts

[squidkid]

Hey Fallond

What do you think about today's action

We broke through resistance on decent volume, on news from the shareholders meeting about an amex listing next year and a few other things.

But for the most part this news was already known.
Do you believe this rally was just used to dump shares again before the break of support?

We closed right back at resistance and the 50,200 sma's

Any thought's or is it up in the air until next week?

TIA

[DJF]

From my perspective it is still wedged between support and resistance. But ifthere is any follow through upside on Monday it will negate the bearish triangle and therefore the probable break of $0.08. Nice action - but if it is going to do something it can't close lower on Monday.

DD as always,
DJF