One of the things which makes this stock valuable to me is that it is in an uptrend (although the ADX is showing it moving into a consolidation... there are three areas of support, and they are the drawn trend lines, and finally the 200 day average)... Even though we have a MACD average crossover, it is above the trigger line, saying we're still in business... with a hard target... we have a known factor ( 9 million plus Early forced warrants that are worth .20 cents to purchase selling on the open market, and will expire worthless as of Jan 24th 2011)... as we get closer to the 24th... we may see a nice move down that may provide an opportunity to acquire a position at a much lower price... don't forget there has been what appears to be some retail shorters ... out of thier minds IMOP, but still possible they think this is a good opportunity...
This link is to a dedicated chart looking for the buy signal... as we don't know where support will actually come in .... I'm using a stochastic oscillator to pick the moment... keep in mind this stock is above the 200 day average... at .20 cents... so support is really strong in the .22 cent area. Factor in the Coffin Factor and I'm really watching this close... I making a what if speculation... they announce a financing at a premium like in the .35 to 40 cent area after the 24th... this could be a nice catch...
Goldquest Chart
GLTA Lostoutwest
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