GNE trend reversal?
Genesis Energy (GNE) coming off a long term downtrend that's been in play for the last 4 years and finally finding its feet on major support at around the $1.90 mark.
Showed signs of OVERSOLD on the (M) RSI at this level and seems to be gearing up for a change in direction with some good potential upside over the next few years. MACD showing good sustained bullish momentum on the (M) and (W). Price currently holding above the EMA's with a potential cross incoming.
Trend reversal would be confirmed with a break and hold above the current 0.618 fib, also coinciding with a previous resistance @ the $2.40 mark.
