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Gafisa S.A. Message Board

  • aco_brasil0192 aco_brasil0192 May 11, 2012 11:43 AM Flag

    Technicals

    GFA bounced perfectly off the bottom of a perfect parallel channel on both the weekly and daily charts today. Unfortunately it didn't hold the 3.65 low from last week. The good news is that GFSA3 did not break the 3.52 low from last week (daily low was 3.56). If that low continues to hold through the day and the stock does not break above the 4.03 high from last week, we will have formed a beautiful inside candle on the weekly - a powerful trend reversal signal.

    At the risk of jinxing the whole setup, I will say that prospects are looking good for next week if Godzilla doesn't stomp ashore in Sao Paulo, and begin devouring undelivered upscale housing developments.

    First real technical hurdle lies at $4.20 (approximately) on the daily.

    Have a good weekend.

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GFA
3.24-0.03(-0.92%)Jul 23 4:03 PMEDT

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