CGLD made a significant run today on quite a hefty surge in volume indicating that a follow up move could be coming up in the process. Wednesdays move broke price out of the bullish symmetrical triangle to get momentum going, If we see a breakout above .75 today i believe this could easily move around 10% to the upside giving us a great opportunity for a short term trade. So what does C-Fous wanna do? Go long on breakout of .75!
BLTI is another stock that already went through the breakout point wednesday so this is a play that i want to enter on a dip, I don’t feel like trying to chase this thing unless i was expecting a long term hold with much higher prices forecasted. But this is just a short term technical play with momentum sparked by a Analyst upgrade. Price broke out from its ascending triangle pattern Wed on increased volume and rallied 14%. This chart pattern suggests a profit target just over $5 which is also right at the next resistance level so $5/share is likely where momentum will come to a halt if price gets up there. I want to buy a 1/2 position of BLTI today on a dip if i can hopefully around $4 share. If it doesn’t dip and continues its run into tomorrow then so be it. I’ll turn my head and say AMF!
