At this moment, GMPR is trading above 3 key lines of potential support:
- 20-Day Simple Moving Average
- 50-Day Simple Moving Average
- 100-Day Simple Moving Average
Why is this important? When a profile trades above these 2 lines, traders may gain confidence from these levels holding as potential support for a continued vertical move.
MACD near zero line. The simplest strategy you can think of with MACD is trading when the MACD line crosses the zero line. When the MACD line crosses above zero, you buy.
RSI just broke above 50 (62.45). A movement above 50 indicates that more traders are buying the asset than selling, and are driving the price up.
According to the OTC Markets, GMPR has 81.4M outstanding shares.
Why a low outstanding shares is that important? It’s important on one crucial level. Volatility.
With so few shares available for trading, potential driver indicators can send shares heading vertical in the short-term.
After the company has released a few press releases recently that could start generating some serious attention, this past champ could be on the verge of making another vertical surge.
The more potential support builds up, the more possibility for a vertical move up.
Could this signal growing confidence in a return to previous highs?
Earlier this year, GMPR exploded to highs currently over 100% higher than they are trading at during Friday’s session.
Now, I’m not saying that GMPR is going back to that high today, but between all of the company’s recent positive news along with their bullish technical indicators, it’s definitely a stock to watch closely this month.
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