Getting close to breakoutFor you penny players out there, I've re-added Gold Bullion on my watch list as this is another one that has been posting higher lows with resistance at
.59 (red line on chart). I don't think its quite ready to go yet so I've set an alert in QuoteTracker to 'buzz' me when it hits
.59. A move above that would signal a good entry point with the initial target being
.64 for gains of 8.4%, followed by
.70 for gains of 18.6%. The down side stop should be the raising trend line which is now at
.56 for a potential loss of 5% but still giving me a risk/reward ratio of 3.6:1, so within limits for me. Don't forget, wait for the confirmation of the breakout.
Click
here for chart.