GMG (ASX) is breaking the resistance and reaching all-time high
Global recovery is the key theme for the next couple of months and logistic facilities and warehouses are in high demand when more countries are starting to re-open.
While GMG has been quiet for the past few months, but its stock appeared to be consolidating and set a great support at $17.51. Comparing with global logistic big bro like CH Robinson Worldwide which has been up 20% during the same period and setting new high, GMG has a lot of room to catch up.
While GMG has been quiet for the past few months, but its stock appeared to be consolidating and set a great support at $17.51. Comparing with global logistic big bro like CH Robinson Worldwide which has been up 20% during the same period and setting new high, GMG has a lot of room to catch up.
Note
Continue to be bullish with the idea. The thesis didnt change at all.Note
Following up on this thesis - stop loss set at support @17.5
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.