#GDR will likely expandFew things with #Genedrive (#GDR): it closed above the 200DMA and it is already gathering some strength before moving on. There is no bearish RSI divergence yet so expansion is possible to continue. However it needs to beat that block of resistance that was earlier a support for so long, so this is now the 3rd run up onto this zone. We beat that and it will likely go straight to the upper parallel channel. TP there at the higher 60s zone, and see how it reacts further. Based on the EW count this should be a similar setup here as the initial covid leg up maybe a more substantial and slower for a C wave up. It might not turn to an uptrend straight but can complete the downtrend and move to a sideways. A lot will depend on the reaction up there. The correction is likely over, however beating that downtrend should not be that easy so likely will react at the top of the parallel channel. One more thing, the gap above £1 is just as much likely going to fill at some point as it filled at 10p - lazy ass gap traders rule this.
I can see some further news drop from the company to continue as they are really pushing it now for gaining trust and confidence back from investors. They don't even need to say much and the herd hypes it up themselves. Hopefully the bunch of pumpers are long gone and only true idiots stay and hold this :)
