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Kirk Lindstrom has an engineering degree from the University of California, Berkeley. Following 20 years of research and development as a scientist and engineer at Hewlett Packard, Kirk turned his attention to investments where he edits "Kirk Lindstrom's Investment Letter," that... More
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  • GGR: GeoGlobal Resources Technical Analysis Update 0 comments
    Nov 5, 2009 08:35 PM | about stocks: GGR
    This article was originally posted at Kirk's Market Thoughts as GGR: GeoGlobal Resources Inc. - Technical Analysis: Golden Cross & Rounding Bottom Patterns


    GeoGlobal Resources Inc. (GGR Charts) is about to make a "Golden Cross" chart pattern. This is where its 50-day moving average crosses above its 200-day moving average.


    Click chart courtesy of stockcharts.com for full size image

    I show the 50 and 200 DMA now at $1.06. With GGR trading now at $1.18, the 50 DMA should be higher tomorrow (or very soon) for an official crossing.

    A Golden Crossing should show up on all sorts of trader charts so I expect money could surge into the stock. Grab your stocks and pull up your socks.....

    As you can see from this longer term chart, GeoGlobal is also making a beautiful rounding bottom pattern. Also bullish is GGR appears to have successfully tested its 50 DMA which has switched from resistance to support.

    Click chart courtesy of stockcharts.com for full size image

    I added shares of GGR to my personal and newsletter portfolios under a buck in August (80¢ in my newsletter and ROTH portfolios) so I'm ready to go higher. I am pleased those August lows held (so far) in this recent correction.

    More information
    GeoGlobal Trading Success: This is a good money maker stock if you have the patience to buy when cheap and sell when very high. In my newsletter portfolio I have generated $18,276 cash, all pure profit from GGR plus I have 7,900 shares on "house money." GGR could drop to zero overnight and I'd still have profits of $18,276! I first started writing about and trading GeoGlobal about 10 years ago when it was Suite101.com/BOWG.

    Disclaimer: I am locked and loaded with shares added to personal and newsletter portfolios at 80¢. I have long-term shares purchased as low as 12¢ in my personal portfolio. I have plans in place to sell shares at preset, but significantly higher prices listed in my newsletter. If my outlook changes, I may sell sooner and announce it to my subscribers.

    Themes: oil, natural gas, drillers Stocks: GGR
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