ðĨ GRT Break Out Is Here! 11 Month Consolidation Ended
A couple of days ago I made an analysis on GRT. Here I argued that GRT was close to breaking out from the ~11 month triangle pattern in which it has been trading.
As of today, we've finally got a strong break out! We're nearing the initial $1 target. With some luck we should reach that very soon.
I've added another line to the chart, at $1.08. I'm expecting the price to find some resistance in that area, potentially bouncing back to the triangle pattern resistance.
However, a break out is likely too, especially after a long consolidation period like this. In that case,. I'm looking for the $1.7 resistance as a second, longer-term target.
Happy trading!
As of today, we've finally got a strong break out! We're nearing the initial $1 target. With some luck we should reach that very soon.
I've added another line to the chart, at $1.08. I'm expecting the price to find some resistance in that area, potentially bouncing back to the triangle pattern resistance.
However, a break out is likely too, especially after a long consolidation period like this. In that case,. I'm looking for the $1.7 resistance as a second, longer-term target.
Happy trading!
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