Stock Chart GFA

Stock Chart Analysis GFA

Gafisa SA (ADR) (Public, NYSE:GFA)

While I can't predict how much longer this rally will last, I know that it's entirely possible that it can be much longer then everyone expects. As such, I continue to take the setups as they occur, and proper money management will get me out of the way when things finally reverse and head lower. GA looks like a classic buy at support candidate with limited downside. It broke out of a healthy base in early May, and is now coming back to retest the breakout area. I have no idea how long it will take to retest, but it looks like it has some more consolidation to go through. This should present some decent prices to get in and the breakout from the original base looks pretty healthy with a clean strong breakout on higher volume. The breakout was also to all time highs, although that's not saying much, since the stock has only been trading a little over a year. All in all though, it looks like a pretty good setup to monitor.



Good Trading,


Joey

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