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GMXR has been in a downtrend for quite some time now. When stocks have sustained long-term down trends, the first test I look to in determining whether its time to buck that trend and, thus, consider entering into a position is for it to break its long-term trend line resistance. GMXR was able to test that resistance last Thursday but was unable to take it out. Purely technically speaking, if GMXR can break that resistance this week upcoming, I think it could be good for a nice ride.
For more information on GMXR, see George Fisher's recent article on Seeking Alpha, GMX Resources: Ideally Positioned in Horizontal Drilling Sweet Spot for Natural Gas Bulls.
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