GNS Consolidated and Resting from Big Move LONG
On the 30-minute chart, I see GNS as a Bullish Pennant on a high flag pole
in the big move yesterday with consolidation now. It is high in the VWAP
bands and so at risk for a reversal to the mean. Pennants more often than not continue
upside. To hedge, I have set two lines. If the price goes over the green line a
buy stop long will trigger into a market price. If the price drops below the pennant
height, a sell stop will trigger the short trade. One trade is on the other will not execute.
Ask if you want my suggestion as to stop losses and targets.
(EDIT - On the chart it is a flagpole not a flap pole !)
in the big move yesterday with consolidation now. It is high in the VWAP
bands and so at risk for a reversal to the mean. Pennants more often than not continue
upside. To hedge, I have set two lines. If the price goes over the green line a
buy stop long will trigger into a market price. If the price drops below the pennant
height, a sell stop will trigger the short trade. One trade is on the other will not execute.
Ask if you want my suggestion as to stop losses and targets.
(EDIT - On the chart it is a flagpole not a flap pole !)
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This was a great pump and dump for sure. The put options on the $1.00 for
8/25 hit 500% on 25 contracts- small position - great return looking for more
will take half of them off to close the week and let the other 10 run
for 4 days next week.
8/25 hit 500% on 25 contracts- small position - great return looking for more
will take half of them off to close the week and let the other 10 run
for 4 days next week.
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