GNW - long-term care for investors as well?
Updated
Not the most popular stock around, and maybe a case for longer term, I have made good profits from 
GNW in the past. I noticed the stock has been in consolidation mode for quite some time now, pretty much since end of last year. It is yet again approaching the upper band of the horizontal channel, which price has touched 3 times this year and been close several other times. The upper band is also the year high of 2024 (and the highest in nearly 10 years), at $6.94. This is clearly a strong resistance, and the interest is whether price will break this resistance or bounce back down. If it breaks, there is no real resistance before around $8.00. And this is from back in 2015! So, this is one to watch, should it break through with a strong move we could see price going to $8.00 and maybe even further as the resistance at this level is 9 years ago. Should it bounce, there is a short opportunity witha target around the lower band of the channel. I chose to be bullish, as price has touched the 2024 high twice in the last 3-4 weeks, last previous touch was in December last year, so this could show some momentum. My target is old resistane around $8.00 but keeping an eye on how strong the potential move has been. EMAs in the chart are 50 and 100 periods.
GNW in the past. I noticed the stock has been in consolidation mode for quite some time now, pretty much since end of last year. It is yet again approaching the upper band of the horizontal channel, which price has touched 3 times this year and been close several other times. The upper band is also the year high of 2024 (and the highest in nearly 10 years), at $6.94. This is clearly a strong resistance, and the interest is whether price will break this resistance or bounce back down. If it breaks, there is no real resistance before around $8.00. And this is from back in 2015! So, this is one to watch, should it break through with a strong move we could see price going to $8.00 and maybe even further as the resistance at this level is 9 years ago. Should it bounce, there is a short opportunity witha target around the lower band of the channel. I chose to be bullish, as price has touched the 2024 high twice in the last 3-4 weeks, last previous touch was in December last year, so this could show some momentum. My target is old resistane around $8.00 but keeping an eye on how strong the potential move has been. EMAs in the chart are 50 and 100 periods.Trade active
GNW is bumbling its way up, approaching the resistance area. Will be interesting to see how it reacts when it is reached, as this level has only been touched twice in the last 8 months. GNW is a slow moving stock, so target of $8 is obviously for the longer term.Trade active
Closed above resistance, should be able to push on further.Note
Quite a pullback from GNW recently, as the market in general pulled back. Did not expect GNW to pull back quite as much as the rest of the market, but seems it got dragged into it. We also had the CEO sell 150,000 shares end of August, which is not a good sign, however price did not react negatively on the news, it actually moved up the following days. Note
I think Genny is just about to break $7. If that happens, we are well on our way. Note
Slowly does it..!Trade closed: target reached
Target reached and then some. It is starting to look a little overbought on the daily, so I will take profit today.
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