GTCAP price action analysis
GT Capital Holdings, Inc.
GTCAP's recent sharp rebound from major support at 1120 after forming a Double Bottom pattern brought it back to its 8-Month Downtrend Line, its immediate resistance area (1275 is also another resistance level).
Trading Plan
- Scale down or take some profit if trading short term, and profit run the rest of the position with trailing-stop (or wait for confirmation if it fails to break the downtrend line before taking any profit taking action).
- Also a potential buy on breakout from its 8-month downtrend line (an immediate breakout will have a measured target near 1400)
GTCAP's recent sharp rebound from major support at 1120 after forming a Double Bottom pattern brought it back to its 8-Month Downtrend Line, its immediate resistance area (1275 is also another resistance level).
Trading Plan
- Scale down or take some profit if trading short term, and profit run the rest of the position with trailing-stop (or wait for confirmation if it fails to break the downtrend line before taking any profit taking action).
- Also a potential buy on breakout from its 8-month downtrend line (an immediate breakout will have a measured target near 1400)
Comments
Post a Comment