General Molybdenum (GMO) Bullish 2 Day Reversal Pattern

General Moly is demonstrating a bullish outside bar which is a reversal pattern which will give us usually 5-7 bullish trading sessions.  Notice how it has bounced off the 200 day moving average which is acting as support.  General Moly is a takeover candidate and needs to be monitored to see how it acts with the 50 day moving average which has become resistance.  This bullish pattern should lead General Moly to test resistance.

Notice the first outside bullish bar in July which led to GMO pushing to 3.50 before it had a series of bearish outside bars which should have been a signal to watch out especially after the triangle breakout.  Now GMO does have a bullish outside bar once again which would be confirmed as a trend reversal if it breaks the bearish resistance trend line.  Also the macd is about to cross on any upward price movement.