NOTE! This site uses cookies and similar technologies.

If you not change browser settings, you agree to it. Learn more

I understand

GNE looks ready to bounce

GNE is currently squeezing with rising buying pressure. Incidentally its quarterly earnings growth is +159,3%. One of these days it could start to rise.

chart of Genie Energy Ltd

Anatomy of a reversal
The British Pound fell miserably since july 2014 and showed the first signs of awakening at the beginning of 2015. It was a flash in the pan and the pound continued to fall until mid march, when the support at 1.47 level has proven to hold, at least until today. Right now the price is undergoing a strong volatility compression, signaled by the fact that the Bollinger bands came within the Keltner's: as we know, reduced volatility is usually followed by sharp price movements, often with an explosive character. This seems to be the fate of the pound, the problem is figuring out which direction this movement will occur. In this regard, the Volume Spread Analysis suggests a bullish movement: the bar on March 18 looks definitely like a 'stopping volume' and the recent drop in prices took place with decreasing volume, as usually happens with 'controlled' pullbacks. In addition, both the seasonal trend and the Commercials behavior look bullish.
Of course, as always, there is also a contraindication. On May 7 in the UK there will be elections, and this time they look very critical, given the rise of some smaller political formations that can make it difficult to form a government. And, usually, the pre-election period is characterized by great instability of the currency. So, VSA would encourage us to buy, the proximity of the election would advise us to be cautious. So, it's the same old question... to risk or not to risk?

Brtitish Pound Daily Chart

Seguici su Twitter


Trading for Purpose RT @AheadoftheNews: NYSE adv/dec past 2 days. Note the strong opens which deteriorate as day progresses. distribution.…
Tuesday, 20 March 2018 06:37
Trading for Purpose RT @ttp_mailus: Cronos Group ($CRON) flies high in Wall Street. Apparently the cannabis business pleases investors. cannabis weed Medic…
Friday, 09 March 2018 10:43
Trading for Purpose RT @ttp_mailus: FOX has just won an Oscar for 'The Shape of Water'. Is the newly formed trading range a distribution or a riaccumulation?…
Monday, 05 March 2018 12:17
Trading for Purpose RT @ttp_mailus: The results of Italian elections begin to clear up and the FtseMib index struggles not to collapse. The ascending channel,…
Monday, 05 March 2018 11:12
Trading for Purpose RT @ttp_mailus: Usually the oil stocks index turns slightly earlier than crude oil itself. Recently XLE (blue line) turned south at end of…
Thursday, 01 March 2018 14:21