Gevo - Waiting for a time to buy
Updated
I'm short for the short term, long for the long term!
From looking at the weekly for GEVO, I think it has another week to go before completing its correction... why?
* In reviewing other green energy (GE) stocks they all corrected below the 20 SMA in the weekly charts, this has yet to do that
* Also with other GE stocks, they corrected back closer to the .768 level, and we're just below .618
* This looks to have support ~4/share, and that would be a likely place for it to find support.
I'll be watching for signs of a rebound. If it holds to my assumptions, then I think in the initial bounce we'll see ~13 before it does it's next retracement.
From looking at the weekly for GEVO, I think it has another week to go before completing its correction... why?
* In reviewing other green energy (GE) stocks they all corrected below the 20 SMA in the weekly charts, this has yet to do that
* Also with other GE stocks, they corrected back closer to the .768 level, and we're just below .618
* This looks to have support ~4/share, and that would be a likely place for it to find support.
I'll be watching for signs of a rebound. If it holds to my assumptions, then I think in the initial bounce we'll see ~13 before it does it's next retracement.
Trade active
I bought in at 7.62 after it broke above the resistance line.
I'm not a financial advisor and I'm not offering financial advice. Everyone should do their own homework before making any decisions!
Good luck and I'm always interested in what you think.
Good luck and I'm always interested in what you think.
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