GTCAP back for another crack at trendline resistance

GT Capital Holdings, Inc.

GTCAP retested the over 8-month downtrend resistance line but with another bearish candlestick pattern potentially forming again - a Hanging Man candle (requires confirmation).

*It also retested the immediate resistance at 1275.
*Failure to break both resistances followed by another correction will likely form up another Double Top pattern (bearish).

On the other hand, a breakout from the downtrend line will likely have an initial price target around 1360.

See previous GTCAP analysis related to this downtrend line:
https://psetrends.blogspot.com/2017/04/gtcap-failure-to-break-downtrend-line.html

Trading Plan
- Avoid for now and monitor the price action along the downtrend line and the immediate resistance.
- Buy on breakout confirmation.


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