Sunday, August 28, 2005

Linear Goats; GTCB

Linear or Log chart? That is something I've been wondering about for quite some time. When do you look at a log chart and when at a linear one? For now I just switch between them from time to time and my experience is that it's very clear which one to use most of the time.
If we look at GTCB we have to take the linear chart. On that chart we can see an ascending trendline which isn't there on the log one.
So I decided that linear is the right chart to choose for GTCB.

About the action of GTCB itself; it consolidated some more with declining volume. It touched the ascending trendline and printed a hammer/dragonfly doji which could signal the end of the consolidation period.
GTCB is a complicated play for me. I really expect GTCB to get that approval, so this is a hard one for me to play a disciplined technical play on. But since I choose to trade using Technical Analysis I will trade GTCB according to a technical trading plan; hold the stock as long as it closes above the ascending trendline.

As I said GTCB touched the ascending trendline, and since I'm real bullish on this stock I decided to add some stocks to my position. I got some at the price of 1,76, lowering my entry price for my total position.

1 Comments:

At 9:31 AM, Anonymous Michael said...

Hi,
I´m interested in this stock too.
But now it is about 1,20$ ... what´s the reason ??
What will you do now?

Greetings Michael

 

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