GRR & CUL
Is anyone following GRR or CUL?
My charts indicate they are potentially close to sparking some interest...Could anyone shed some light on either?
I dont hold either
I had the misfortune of buying GRR around .80 when I thought it had bottomed - then watch it hit my stops and take me out, and then soon after stage a remarkable rally.
As they say poo happens.
I'm in two minds now whether GRR has the ability to continue up to previous highs upwards of $1.70 or whether a pullback is more likely.
On the weekly chart the indicators suggest the latter.
The stochastic and Money Flow Index are both in overbought territory and the Neilsen supply/demand indicator shows strong bearish divergence.
Given our recent market correction (is it done yet?)and the skittishness of the US markets I woul be tempted to wait for a new direction.
If it breaks up, let it go and buy the consolidation, and if a pullback occurs look for support around $1.10 - $1.00 levels.
But then again I got it wrong the last time...lol.
Yeah i was more inclined to say if it breaks 1.29 its got some legs in it...
i guess we will wait and see lol :)
Nikko, doesn't need much, Macd is crossing, RSI up, volume is 'buying ' variety. Cheers ,Norm.