Tuesday 21 September 2010

GTL Resources - breakout?

At the first glance, todays move in the share price (up 5p or 8.26%) to 65.5p, doesn't seem overly significant. However, have a look at the SP graph again. It seems to show a breakout above the upper (resistance line) of the 'against the trend' wedge. This is considered by technical analysts to be a bullish move.

Using fundamental analysis, particularly the low PSR, also confirms that it's worth holding on to these IMHO. Have a look at the GTL research note on the website.

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