Kenneth P. Norquay, CMT
GGL Diamond
GGL-X
RISKY
Jun 01, 2007
Technicians can't see much from the 5 year chart, looks like a promoted stock, because there is a long period of nothing and then a huge spike.
The one year chart shows that if it breaks below 0.5 (first drop after the initial spike) it is in trouble.
Speculatively, if the area between the spike and the first drop forms a pennant (a triangle with two points on the spike and the drop) then if the volume has dried up, by the end of the pennant and it starts to go up. You can take a shot at that point (very speculative), otherwise, stay away from.