Thursday, November 23, 2006

GTW Analysis 11.23.2006

Monthly chart showing a possible bottom is in place. Needs to clear LIS at $2.02 first before it can go higher. Still early yet. Worth keeping an eye on.

Weekly chart more clearly shows that early buyers are getting back in. Let's see if it can be sustained.

Change in sentiment noted with cradle pattern off the $1.30 area low. Last week found support off the 50sma, taking the price to close above the 200sma. Let's see if the current support brings in more buyers or not. The key is to watch to see whether buyers step in to take it higher, or whether the current LIS at the$2.35 area resistance brings out the sellers, to try to push price back to test the lows.

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