GGP has fallen a long way from it's 2007 high but has been steadily creeping up since bottoming out in 2009.
This stock started to trade above the daily 200ma earlier this year but was still not displaying the hallmarks of a strong trend. The pullbacks, while not excessively deep, were quite prolonged and kept retesting the 2013 pivot high.
Since September we have seen a large rounded base followed by a smaller one and now a bullish flag (with a doji at the extreme). But while GGP looks to continue it's trend to the upside there are several resistance levels ahead, one of which being the $30 mark.
There are probably better opportunities worth waiting for.
This stock started to trade above the daily 200ma earlier this year but was still not displaying the hallmarks of a strong trend. The pullbacks, while not excessively deep, were quite prolonged and kept retesting the 2013 pivot high.
Since September we have seen a large rounded base followed by a smaller one and now a bullish flag (with a doji at the extreme). But while GGP looks to continue it's trend to the upside there are several resistance levels ahead, one of which being the $30 mark.
There are probably better opportunities worth waiting for.