Greenwood Gold Resources Inc. (OTCBB: GGRI) literally blew up in the last 30 minutes of trading yesterday, starting its run from a low of $.0221 and closing at $.067 for a 346% gain! This is the stock that started plummeting on heavy volume at the beginning of June that incorporated zero bounce at the time. However, with almost 44.5 million shares traded in the last 30 minutes Monday, there could be a massive gap this morning!

GGRI recently purchased a 100% working interest Option from Candorado Ltd. in Calgary Alberta. GGRI is required to complete a $350,000 exploration program and pay $150,000 cash to the company in order to earn the 40% interest within 6 months of the option date. GGRI gave Candorado Ltd. a little over 6 million shares as part of the agreement.

Make sure you SIGN UP for my FREE EMAIL ALERTS! Winners last week: WAMUQ 64%, SHZ 67%, YRCW 149%, BBDA 214%

Technical Indicators:

• GGRI plowed through its resistance at $.0265 and had little other resistance after that! The next major resistance is $.125, but $.08 might offer some resistance as well.
• The RSI is pointing up at 37 almost in the buy zone, which is a very good area for a reversal trend because there is a lot of room to travel.
• The MACD is showing an imminent golden cross; I would be very surprised if this does not cross tomorrow.
• The ADX has a way to go for a cross, but there is still potential for that to happen.

The Bottom Line

GGRI is a 95% off its recent high of $1.05, even though there were hardly any shares traded at that level. However, there were good amount of shares traded in the $.20 to $.30 range! Don’t marry this stock by any means because you might get a different kind of golden shower, but it could see a super sharp gap in the morning! Play the momentum my friends!

Make sure you SIGN UP for my FREE EMAIL ALERTS! Winners last week: WAMUQ 64%, SHZ 67%, YRCW 149%, BBDA 214%

Good Luck,

Ian Decker

Disclosure: No Positions

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