GNK charts

I just told you about a triggered alert for GNK on a break of support, here are the charts:

Here's the daily chart showing an area of support that has been falling apart.

This 10 min chart shows the intraday price action around that support level, we saw a break on heavier volume, a test of what is now resistance (when support is broken it becomes resistance) and a failure of that test on heavier volume again.

 The 3C 1 min chart shows 3C is trading inline with the decline, confirming it and more interesting, the attempt to break above resistance in the red box shows a 3C negative divergence at that moment meaning there was distribution/selling on the attempt. This area now becomes stronger resistance and we saw a pretty fast move down from there on an intraday basis. Ironically just last night I showed you the rates shippers are receiving for Dry Goods shipping, which made them a target for me and I put several on watchlists with alerts.

Take a look at the trade, it's not in bad position at all, of course it is a short sale trade.