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Market Summary: GDP

|Includes:Goodrich Petroleum Corporation (GDPM)

Looking at the weekly chart below, we can see that Goodrich Petroleum (GDP) is ready to break out to the up-side.

Price action has no place to go. The set-up will either break lower, continue sideways (breaking the down-trend line by default), or break out to the up-side.

GDP Weekly

Chart by TeleChart

Disclosure: I am long GDP.

Stocks: GDPM