I will gladly have a strong cup of $GLNG
Cup and Handle bullish breakout for GLNG! Following the news of GLNG's joint venture "HYGO" to be listed on the NASDAQ, GLNG had previously formed a cup and as you can see the handle where the bears tried to take control leaving the stock trading in a channel between 9.02 acting as support and 11.01 as resistance. Following the news, the bulls took full control leaving the bears in the grounds. The bulls full speed ahead jacked up on caffeine pushed the stock past the 11.01 resistance making 11.37 a perfect entry point for a long trade. September 14 is the entry for this trade as it opened at 11.22 and closed at 11.73. A conservative stop/loss would be at S2 at or around 9.80. Personally, imo I would set my S/L at 10.85 which is just below the open of the September 11 candle. The only indicator I am not pleased with is the RSI is starting to enter the oversold area but this can change as this is a daily chart. The MACD still showing a strong bullish trend. Recently, GLNG was upgraded from HOLD to Buy. Drink with caution!
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