After coiling up for months in a symmetrical triangle with a rapidly converging trading range, GNE successfully brokeout above its upper trendline following NIA's initial GNE alert less than one week ago! This represents the official beginning of a major new uptrend! Together with GNE's major short-term catalysts, extremely strong fundamentals, rapid revenue growth, and record high free cash flow - NIA has every reason to believe that GNE will rally big in the days ahead as smart in-the-know investors take notice of the company's unique, one-of-a-kind, prominent leadership position within Syria's oil exploration and drilling industries.
Historically, GNE's key breakout point has always been its 500-day moving average. This past Friday afternoon, during the final half hour of the trading week, GNE successfully surpassed its latest 500-day moving average of $5.84 per share and finished the week at $5.90 per share!
Take a look at GNE's long-term chart, including its 500-day moving average. GNE faced major resistance in September 2014 at its 500-day moving average, but when GNE finally surpassed its key breakout point of $8.69 per share in April 2015, it exploded by $5.56 or 64% to a high of $14.25 per share within the following 19 trading days!
Between April and June of 2017, GNE once again faced major resistance at its 500-day moving average. GNE's breakout that occurred late in the day on Friday looks almost exactly like what occurred in April 2015. If GNE once again explodes by 64% from its latest key breakout point of $5.84 per share that it surpassed late on Friday, we would see GNE rise this month to a price of $9.58 per share!
Past performance is not an indicator of future returns. NIA is not an investment advisor and does not provide investment advice. Always do your own research and make your own investment decisions. This message is not a solicitation or recommendation to buy, sell, or hold securities. Never make investment decisions based on anything NIA says. This message is meant for informational and educational purposes only and does not provide investment advice.