Noteworthy Trading Activity for General Steel Holdings (GSI)
Published on 07/13/2010 by Leo Goldman
NEW YORK (Market Intellisearch) -- Shares of General Steel Holdings closed above the 50-day moving average of $2.87.
Technical analysts and investors who study trading patterns will view this development as a sign of strength.
The price when compared to the moving average can be used as an indicator to determine the trend.
Today's closing price of $2.88 $0.17(+6.27%) may indicate that GSI may head higher in the foreseeable
future assuming the moving average continues to increase. On the volume side, 671,187 shares exchanged hands
versus the average volume of 425,717. Today, the stock price ranged between $2.71 - $2.90 and the stock's 52 week low
is 2.2 and the high is 6.00.
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 GSI are 2.76 and 2.95 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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