GSTEEL : Next major support at 0.42 then 0.38
September 25, 2011 Leave a comment
GSTEEL will be badly effected if European issues flare up beyond the current nightmare and could easily fall to the low 0.40’s. In the very short term it will have trouble passing just 0.51, and from here there is resistance all the way t 0.54 and indeed far higher.
We can not rule out a retracement to 0.37-0.38, and if a banking crisis engulfs Europe during Q4 we would not be surprised to see this stock ultimately fall to or very near 0.30