GeoGlobal Resources Inc. (GGR Charts) is about to make a "Golden Cross" chart pattern. This is where its 50-day moving average crosses above its 200-day moving average.
Click chart courtesy of stockcharts.com for full size image
I show the 50 and 200 DMA now at $1.06. With GGR trading now at $1.18, the 50 DMA should be higher tomorrow (or very soon) for an official crossing.
A Golden Crossing should show up on all sorts of trader charts so I expect money could surge into the stock. Grab your stocks and pull up your socks.....
As you can see from this longer term chart, GeoGlobal is also making a beautiful rounding bottom pattern. Also bullish is GGR appears to have successfully tested its 50 DMA which has switched from resistance to support.
Click chart courtesy of stockcharts.com for full size imageI show the 50 and 200 DMA now at $1.06. With GGR trading now at $1.18, the 50 DMA should be higher tomorrow (or very soon) for an official crossing.
A Golden Crossing should show up on all sorts of trader charts so I expect money could surge into the stock. Grab your stocks and pull up your socks.....
As you can see from this longer term chart, GeoGlobal is also making a beautiful rounding bottom pattern. Also bullish is GGR appears to have successfully tested its 50 DMA which has switched from resistance to support.
Click chart courtesy of stockcharts.com for full size imageI added shares of GGR to my personal and newsletter portfolios under a buck in August (80¢ in my newsletter and ROTH portfolios) so I'm ready to go higher. I am pleased those August lows held (so far) in this recent correction.
More information
- Definition of Golden Cross pattern
- More GGR Charts
GeoGlobal Trading Success: This is a good money maker stock if you have the patience to buy when cheap and sell when very high. In my newsletter portfolio I have generated $18,276 cash, all pure profit from GGR plus I have 7,900 shares on "house money." GGR could drop to zero overnight and I'd still have profits of $18,276! I first started writing about and trading GeoGlobal about 10 years ago when it was Suite101.com/BOWG.
11/21/09 Update. GGR Closed Friday at $2.72. I took profits in my newsletter and personal portfolios at $2.75.
Disclaimer: I am locked and loaded with shares added to personal and newsletter portfolios at 80¢. I have long-term shares purchased as low as 12¢ in my personal portfolio. I have plans in place to sell shares at preset, but significantly higher prices listed in my newsletter. If my outlook changes, I may sell sooner and announce it to my subscribers.
From 1/1/1999 Through 11/09/09
11/21/09 Update. GGR Closed Friday at $2.72. I took profits in my newsletter and personal portfolios at $2.75.
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Disclaimer: I am locked and loaded with shares added to personal and newsletter portfolios at 80¢. I have long-term shares purchased as low as 12¢ in my personal portfolio. I have plans in place to sell shares at preset, but significantly higher prices listed in my newsletter. If my outlook changes, I may sell sooner and announce it to my subscribers.
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I try to post GGR related news in my "Investing for the Long Term" facebook group under the discussion title GeoGlobal Resources - GGR . All are welcome to join.
ReplyDeleteGGR's Golden Cross is now Official!
ReplyDelete200 DMA now $1.06
50 DMA now $1.07
GGR Charts
Scroll down that page below my 10 year chart showing 200 DMA. If you click the link I have there for my 1 Yr - 6 Months - 1 Month links, they generate new charts with 200 and 50 DMAs live!
Today GGR closed at $1.66 and profits were taken by selling half the shares purchased at $0.80 in August.
ReplyDeletePRICES
Date Close Volume
10-Nov-09 $1.46 336,400
9-Nov-09 $1.37 467,200
6-Nov-09 $1.27 199,800
5-Nov-09 $1.20 333,800
If GGR corrects again, then I'll send an email to my subscribers announcing where I will repurchase shares to do this again.
If GGR continues higher, then I will continue to take profits to increase my hoard of cash and give me ammo to buy the next big correction.
It blows me away how much money I've made trading this stock.