Setup to breakout over 200 day moving avg?If we can break the old resistance level of 7.5 cents on the chart decisively with volume, then the trend reversal can be confirmed and old resistance levels will become support levels instead.
A good catalyst to change the trend will be positive news concerning resolution of the option
exercise in favour of Galway Gold accompanied by higher gold prices which makes these prices a great entry point. Insider buying continues and stock is getting concentrated into stronger hands.
The 20 day and 50 days moving averages have been overcome now, but the major area of overhead resistance will be the 200 day which looks like this 7.5 cent level.
DOC