GGB


This is the past 11 yrs of data in the monthly period. This stock looks a bit more interesting and less dismal than DRYS. Though, I would have to admit, the big picture of DRYS was a bit fun to look at.

Right around where it's at right now, it's at 50% retracement to the downside. So, this is a pivot point. Will it go up or down from here? Last month was a doji, testing this 50% range.

Volume: Strong bullish volume. They will test to see if there is more bullish strength to take price action up.

MACD: Losing bearish strength.

RSI: Still in a downtrend. If you take the last 2 peaks and draw a line here, the trend is down. This would make sense if this is just a retracement and not a reversal.


The pattern that is forming is a descending wedge. It's really a beautiful pattern. If it breaks down below (closing daily price) $9.40 or the 200 EMA, that would be a good entry to the downside. I would wait until it broke above the down trendline in the price action to get in for a bullish position.

The past month, there is more bearish strength over bullishness, but it's not hugely there.

MACD remain bearish.

RSI is in an overall downtrend.
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