GENL - GOOD Breakout - The Game is OnGreat recent push higher has now got the GENL chart the attention its deserves.
As things stand, a potential short term pull back to deal with breakout, then a good push higher.
Best to watch price action but guage for 180 to 200, then potential sideways movemnt while the market digests the recent changes, ultimately it looks like it could reach 250 in the long run.
GEGYF trade ideas
GENEL ENERGY - Great PotentialTheres definitely something worth planning here.
BUY ZONE reasons for confluence - Rounding bottom patterm followed by recent new price highs, relatively significant trendline, good pivot zone with 100 round number, RSI over bought and EMA's starting to perform in the right order.
Plan of attack -
1. Wait for price to pull back into buy zone - around 100 (good confluence)
2. Move to candle stick charts for swing pattern or hammer entry signal
3. Trade to 140, expect some resistance as this is a previous historical high
4. Watch price action pull backs and then further momentum to break 140
Significant strength at breakout would beneficial for confidence of further continuation - good upside from there.