Lisa asked for a chart of GXP, a stock that she’s owned for a while:
I’d love to get your opinion about the chart for GXP. I’ve owned this stock for a while and collected the a nice dividend, but every time the
stock pokes it head above $30 comes right back down. I’m debating what to do after I collect the latest dividend.
I think she already has a great read on the situation and the chart. GXP may be a great way to collect dividends but it hasn’t been good for capital gains of late. There are some encouraging signs in the chart for the bulls. The stock is finally back above both its 200 and 50-day moving averages. Another good sign is that the 50 DMA is now above the 200 DMA. (It just made a Golden Cross two weeks ago.) Uptrending stocks should have the shorter(faster) moving averages above the longer(slower) averages. Either of those averages or the resistance/support line just under $31 could serve as stop-loss points.
