5GN is a stock I’ve been watching (and now wishing I had been trading!). It’s relatively short listing history makes charting analysis a little challenging. While I’d like to see a pullback before buying in – and I may have already missed the bus – it looks good.

Most likely on Elliott Wave 3 which is the longest and strongest rising wave. Is in a technical uptrend and making higher lows and highs. If you had seen the break of downtrend back in 2018 and used the trading rules I applied – you would have had to wait 6 months to get an entry. It would have been a worthwhile wait as those trading rules gave a 150% profit over about 8 months. The next downtrend was broken by a ‘sucker rally’ which my rules saw a break even trade or small loss after brokerage. The next downtrend break trade is the current rally which is up 130% from my theoretical entry.

Oh well – I’ll need to keep a closer watch on 5GN going forward.

5GN 1Sept2020

Contact

Robert Norman

Phone: 0428 346 951
Email: robert@sharecharting.com.au

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