GNW - long-term care for investors as well?Not the most popular stock around, and maybe a case for longer term, I have made good profits from NYSE:GNW in the past. I noticed the stock has been in consolidation mode for quite some time now, pretty much since end of last year. It is yet again approaching the upper band of the horizontal channel, which price has touched 3 times this year and been close several other times. The upper band is also the year high of 2024 (and the highest in nearly 10 years), at $6.94. This is clearly a strong resistance, and the interest is whether price will break this resistance or bounce back down. If it breaks, there is no real resistance before around $8.00. And this is from back in 2015! So, this is one to watch, should it break through with a strong move we could see price going to $8.00 and maybe even further as the resistance at this level is 9 years ago. Should it bounce, there is a short opportunity witha target around the lower band of the channel. I chose to be bullish, as price has touched the 2024 high twice in the last 3-4 weeks, last previous touch was in December last year, so this could show some momentum. My target is old resistane around $8.00 but keeping an eye on how strong the potential move has been. EMAs in the chart are 50 and 100 periods.
