Today pre-open is as high as 5.20 with nothing between it and 4.90, but that should wiggle around just near the open, ........ making a buy 5.20 if it still holds.... at this point is asking for whip... Statistically 4.66 will be tested within a month... Price wise... there is no solid indication that we are witnessing a reversal as much as can be seen in charts... price always moves before indicators... in all cases...
Looking over this chart there is no indication other than an anticipation that we are near a medium term reversal if it develops.... in the meantime a swing is in progress which should regroup (thinking summer doldrums and general market consolidation) for a textbook lower bollinger higher low. If this was to occur late summer it would be all the more solid.
TKO.TO
However a ringed bottom entry point does illustrate a higher than average swing possibility.
A long position would be more with a lower bollinger (higher low) touch or near it to be the ideal conservative spot to move in... TKO is a whippy prospect... and as such the fundamentals are important to maintain a good attitude as it throws u around...
It is my opinion that this would have been a good swing and I would have been selling in this area 5.20 and higher on the toppy signals like a doji candle with churning. A gap like this is asking for some profit taking.
7:24 - 6 minutes before the bell Level II
GLTA Lostoutwest
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