In my technical write-up on GSS Energy (“GSS”) dated 14 Sep 2017 (click HERE), I highlighted the possibility that GSS may be on the verge of forming a potential inverse head and shoulder formation. For this write-up, I have put in my personal view based on both technical and fundamental aspects.
Read below for more.
Technical outlook – bullish
Why do I feel the chart looks positive?
a) Previously, in my earlier technical write-up, I mentioned that a breach above $0.157 with volume and on a sustained basis points to an eventual measured technical target of around $0.186. GSS has been hovering around in an extremely tight range between $0.159 – 0.164 for the past eight trading sessions. Furthermore, since 31 Aug 2017, the increase in price is typically accompanied with higher than the 30-day average volume. Therefore, in my opinion, the bullish …