$GLOG jumping beans may be bouncing higher

I’m a big fan of jumping beans.  They are just curious fellows and it is always a delight to watch them jump all over the place.

So when I looked at the $GLOG chart, I couldn’t help but remember the jumping beans.  There was this one bean that jumped so high it went over the box…  and I think this $GLOG will do just that.

Take a look at the daily chart:

GLOG_daily

Did you see the resemblance of the jumping beans in the price actions for the last month?

After falling off from the uptrend line, $GLOG has been consolidating for about a month; I think it will soon resume it bounciness to jump much higher.

Take a look at the weekly chart below:

GLOG_weekly

There is a solid base and support around $12.17 area. The overall trend (blue line) is still up.

Once the general market brush off this consolidation and head higher, $GLOG will jump much faster is my take.

I bought starter position on $GLOG today.

My 2 cents.



Categories: GLOG

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