Fourth technical analysis : GNUS

I have allocated the main supports and resistances within the chart. Based on the technicals, a 5 Elliott wave pattern has been established in an uptrend, which is generally followed by a corrective (ABC ) wave pattern to the downside. if the correction were to play out, $2.30, $2.20, and $2 price levels would be tested as a result ( however, not all levels might be tested in this instance). If a movement occurs to break out of the $2.50 price level, then a bullish movement will be established; the $3 price level ( heavy resistance) could be tested. If momentum is introduced into this stock, further resistance levels above the $3 price level could be tested.

Disclaimer: This is not financial advice. This information is provided for education and informational purposes only.