GEV 5.00% 19.0¢ global energy ventures limited

GEV making a move

  1. 1,702 Posts.
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    Do agree in regards to the 22c - 200 week MA being cleared. Once it goes, it should run on nicely towards the 28c - 30c mark in the short term.

    Thought i'd throw a couple of charts re GEV into the chart thread. I've been keeping an eye on this over the last couple of weeks as the stock price played with the 200 day, rejected, consolidate and made another move late last week. Nice to see it spend some time at this level - 18c, before making it's next move higher. I had been sitting back on market looking for some soft hands to slot me some stock, however the buying has been constant all week and increasing nicely over the last couple of days. Forced me to deal this morning on market.

    Happy to add to this position if we get a pull back from here at 20c or better, however I don't like my chances.

    Looking at the daily / short term setup, nce push off the 200 day MA, with the MACD trending positive nicely above the 0 control line, RSI's heading north, but not yet over bought, as to the stochastics. Looking at 22c as the first stop and then once cleared (most likely with sold news flow) a push towards 28c in the short term.

    GEV d.jpg

    Having a quick look at the weekly / medium term setup is also quite encouraging as the share price makes a move to the 200w MA at 22c. This may become resistance in the short term, however could clear it with ease with supporting volume on market.

    MACD trending positively towards the 0 control line. I expect that once it moves above the 0 control line a larger move will play out. RSI & stochasitcs both trending nicely higher and some way off yet being over bought. Ducks are starting to line up here as the fundamentals are delivered.

    GEV w.jpg
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