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Registered User
Joined: 3/7/2005
Posts: 148
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Your thoughts please on TGC
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Registered User
Joined: 1/28/2006
Posts: 291
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I like the 'all gaps fill' mentality. A speculative buy @ .61 if you like catching falling knives.
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Registered User
Joined: 5/17/2005
Posts: 221
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I like the fact that this stock broke out of 4 year down trend line in mid 2005 on 45 million shares traded in week ..look at weekly charts(huge volume = break out of trend line). The stock then retraced back to it's 50 week moving average price before taking off again (which also happened to be the 75% fib retracement line also and 200 day MA on the daily chart)
The recent gap in the stock is a good sign that there is an underlying strength in buyers, but if you are not in yet, wait for the gap to close back down to around 0.64. If this stock is really bullish then the other place to buy would be the on a break out ( with volume size ) above the October high of 0.99. The stock seems to be consolidating just under this price range right now .
awshucks is ignoring the strong technicals in this stock's chart ....I do not think this is a falling knife scenario , but as always have a trading plan and place stops for the risk you are willing to take !
The other thing that you cannot ignore in this stock is the fact that if you bought it as it reversed off the 200 day ma ..you would have made 128 % in a month !!!
If it breaks above the 0.99 level first major test on the wekely chart would be 1.3
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Registered User
Joined: 3/12/2005
Posts: 17
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This looks interesting. If it pulls back to the 20 bar moving average at 0.61 or the 50 at 0.52 and then bounces back up and if the chart looks good then,it might be a long.
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