GL Ltd - Turning Around After 4 Years Downtrend

GL Ltd. (Guocoleisure) - Could finally be turning around after a 4 years downtrend on worries of Brexit, weak Pound and depressed oil sector. In May 2014 , this stock went to a high of 1.20 on privitisation rumours.  With Brexit near settlement, oil sector bottoming out and the Pound recent spectacular recovery, it stock could be beginning to turn around. The charts is showing huge accumulation at 0.72 levels, at 0.76 today it has climbed to stay above the 50 days MA and broke above its downtrend channel, which potentially points to  an upside target of 0.82 and 0.92 respectively.

All posts and charts are for educational and illustration purposes only

GL

Formerly Guocoleisure - With attention on M&A play focused on GLP and UE, another old favorite M&A play GL looks to have bottomed at 0.74 and is making its way up. It could test 0.815 in the near term, any break above 0.815 could signal a return of another speculative M&A run.

All posts and charts are for educational and illustration purposes only