More on bullish technicals...Another very important techncial point, and this goes back to the huge gap-up on discovery news in June: Typically with a high volume gap breakout, as we saw in June, the bigger the gap on the breakout, and the higher the volume driving it, the greater is the uptrend that ultimately follows. In these situations rarely do you see the stock return to pre-gap levels, and we did not see that with GQC even with the market crash earlier this month. It stayed above the pre-gap level.
The gap on the GQC breakout in June was incredible to say the least, several hundred percent, powered by massive volume. It's not surprising the stock went lower afterward, due to a number of factors not the least of which was disbelief among some in the discovery. Then we had a market crash, and that's exactly what it was - an almost 30% drop in the Venture Exchange value in just 18 trading days.
I started loading up on GQC in the 60's after initially getting in at higher prices in June. I bought more early in the day Friday once it was clearly evident to me we were going to quickly power thru .80 and likely go substantially higher.
What will Monday bring? News is certainly possible. I'm a buyer on any weakness, but I wouldn't be surprised if we gap-up a little Monday and make a quick run to $1.00. If we bust thru a dollar, look out.