Here is a stock that I have held for quite a while and am going to add more shares. GXDX has been trading sideways for about a year trading between $20 and $40. Yeah, that is a 100% range but this stock has held out despite the overall 40% decline in the stock market.
Here is my logic:
1. The ADX is below 25 which denotes a non-trending stock.
2. The slow stochastic (14,3) has just crossed 20 which is a buy signal in an non-trending stock.
3. $28 has acted as support for the past 3 months.
4. The 200 day moving average is still being used as support.
My target to sell is $38 and my stop loss is below $28.
Let's see how this one pans out.
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