jonwayne02

$GO Charting Patterns

Long
NASDAQ:GO   Grocery Outlet Holding Corp
My analysis: I'm curious to see how this performs. $GO bounced off the 200 MA back in June and seemed to have triggered a wave 1 and a price channel . This time it broke the price channel but appears to be bouncing off the 200 MA and the start of wave A. Targeted rebound to $41. If it breaks through the channel I am bullish but if it falls below 39.33 after the bounce I turn bearish .

Thoughts?

"I'm not an expert but I have watched a number of youtube videos"

NASDAQ:GO
Comment: Tracking nicely - jumped the 20 day EMA today. I wish I could update this chart - I cleaned it up a bit and used EMA instead of SMA. It shows the path better. I'm thinking we break the 50 EMA soon and establish a new support just like in June.
Trade closed: stop reached: Bears win.
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