Friday, June 8, 2012

GCB (5102)


Someone posted about watching out this counter Guanchg, as the company is proposing for bonus issues, which are still pending while waiting for approval.

I have been watching this counter for the past two days, and i realized that it has shot up to 2.73 highest on 7/6/12; which is about 20 cts from low 2.555 on 4/6/12. 

Today's opening is at 2.70, which is also the highest of the day, and it fell to 2.66 before closing @ 2.68. There were sellers dumping the shares. 

There is however some support @ 2.67. 
MACD is above the signal line however its currently on the weaker territory. Will have to monitor further to determine a better entry point. 

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