GLNG breaking out above long term resistance & showing strong upward momentum. Moneyflow pushed really high at the breakout point along with huge volume. We think it can go as high as $37.33. In the weekly frame it shows a possible Flag formation with similar target.
Trade Criteria Date first found- January 25, 2017 Pattern/Why- Breakout of Longterm resistance. Entry Target Criteria- Break of $28.03 or Retrace back to $27.03 Exit Target Criteria- First target $33.83, Second target $37.33 Stop Loss Criteria- $24.83 Trade Status: Pending
Comment
January 31st- Made a lower, but closed bullish. Still holding to our stoploss. Wait & see situation. January 30th- Strong decline breaking below EMA lines, not looking good as long. January 26th- Declined a bit & Traded into pull back entry at $27.03, but closed bullish. About 3% higher from entry price.
Comment
February 10th- Went up huge 4.9% today, and made a higher high. Looking very good as long. Updating stoploss to $26.61 February 9th- Nice reversal after testing MA 20, looking strong now. February 7th- Seems rolling over, not looking very good as long at this time. Wait & see situation. February 3rd- Nice upward move from EMA lines, showing strong upward move.
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