Thursday, December 19, 2013

GLP (technical)

GLP: notwithstanding today's long black candle, the counter remains in a longer term uptrend supported by the 200day moving average ($2.83). RSI remains tilted on the upside, and MACD is on the verge of featuring a positive crossover, which suggests that near term price action could reverse back up. The chart features a lower risk -higher reward technical set up currently, if a stop loss is placed just below $2.80 with upside potential to $3.00.

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