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:
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:
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.