Update on GMTD, Gaming Trading Technology Company

On April 21, 2010, I had posted “Recent IPO Gaming Stock” on Long & Short Investment and stated that if GMTD breaks its resistance at $4.80, then I expected this stock to continue to
 move higher.  Shortly after, GMTD cleanly broke its resistance near the end of April and has been above this resistance ever since except for the one big down day.  It seemed to have made a

new support at $5 and as long as GMTD stays above this support, it should continue to do well.  One thing to be cautious about GMTD is that when it broke its resistance, it did it with very low volume.  I was hoping for more volume as it traded above $5 but that was not the case.  This means there is still a great possibility for GMTD to fall.  Keep an eye out for supports at $5, $4.80, and $4.50.  Although this stock is still very risky, with some technical analysis we can still profit from it without risking too much.

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