Gushan Environmental Energy Limited (GU) Gets Bullish Confirmation
Published on 06/28/2010 by Leo Goldman
NEW YORK (Market Intellisearch) -- Shares of Gushan Environmental Energy Limited settled at $1.06 up $0.27(+33.97%)
in today's trading session. On the volume front, trading was heavier than usual and the
price of GU shares crossed above the 50-day moving average of $0.89. The relationship between
the stock's price and its moving average is key to determining the trend. Today's trading activity
is a sign that the shares of GU may continue to head higher in the near future as
long as the moving average continues to rise.
Investor expectations change with time, and they often do so abruptly. The development of support levels is
probably the most noticeable and reoccurring event on price charts. The breaking through support levels can be
triggered by fundamental changes that are above or below investor's expectations. Based on the pivot points, the current support
and resistance levels for Gushan Environmental Energy Limited are 0.90 and 1.14 respectively. If the resistance point price is broken in an upward movement, then the bullish trend is likely to continue and vice versa.
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