TGIF trade ideas
$TGIF $TGIF.V - Bullish IMO$TGIF $TGIF.V - Broke downtrend line. Breaking Inverted Head and Shoulders . Could result in a nice move up from here. Have gone long at .57 Entry.
Possible break through on the gap down?? $TGIF $TGIF.VNeutral here but Ascending triangle tapping former resistance line on todays gap down. Will be watching closely near term. $TGIF $TGIF.V
A $TGIF breakout !?!?! Is this really going to happen?Consolidating for a year. A lot of patience by the longs that held. I hope they are rewarded.
Major resistance broken and backtested as support$0.35 resistance level has been broken with fairly good volume and has now been tested successfully once as support. 12 and 26 EMAs continue to act as support.
Subtle bullish RSI divergenceOn the weekly timescale. I'm waiting for a break of the resistance line with some high volume for buy signal.
$TGIF trend about to change ? Hammer close with 4x avg volumeThis article" equity.guru and upcoming financials could be the catalysts needed to get $TGIF back on top of it's moving averages.
TGIFF channel boundOTC:TGIFF has been trading in that 50% channel for 4 months now
0.40 - 0.60
couple things i noticed about the chart that may pass over on first glance:
~~~ It seems to make its move UP from .4 to .6 a lot quicker than it has been taking to move back down. (the most recent drop was more rapid than previous several times, however)
That kind of tells me that bulls are eager to pounce on it once the selling pressure is relieved some. However, they have yet to keep that momentum going to push it beyond 0.60 as of yet. If the trend continues, i would imagine it will take a week or less to make that jump up to 0.60 area. Even more likely seeing how it has been sideways for 3 weeks now
~~~ the RSI has been slightly diverging over those last several months.
its early march high was .617 while the RSI was 56 ; and mid april high was 0.58 but RSI of 59
Assuming an entry of 0.40 ... S/L at 0.36 and target at 0.60 offers a good 1:5 RR ratio
