TECHNICAL ANALYSIS UPDATE: turning bullish need strong closeJuly 23rd when SCR dropped from $0.76 open to $0.70 low to close at $0.73 the MACD officially crossed down (BEARISH)
Slow stochastics has remained in OVER SOLD region (%K below value of 25) since August 11th when stock was at $0.695
These two along with the downward trendline and fact that I seen that 15 of 18 days there in late July and August the stock price CLOSED lower than open ... I continued to stay clear of this ticker!
HOWEVER... with news we are gratuating to TSE main board, and going LIVE in colorado with big short seller covering COMBINED with todays stock ticker back above $0.60 on a day of major red across the markets is a HUGE POSITIVE SIGN of STRENGTH for this stock and possibility the bottom is in and future looks brighter!
I was going to wait til Nov/Dec to position into Score but if we CLOSE strong today, and can hold gains on Tuesday the MACD will officially cross up... with slow stochastics crossed up and %k now out of oversold at value of 30+ (I like to see it at 60+ before I jump in)
$0.65 for me is the magic number as I now see us retesting $0.70 in the SHORT TERM... and solid support level at this $0.60 for downside risk.
GLTA - may we see and retest that BUCK milestone again before years out!