Fifth count of the pennant at localized .786. This is a tight stop loss trade for me but I think there is huge reward. Close to 40% short intertest on this stock, so a leg up could cause a huge leap. It clearly is still in an uptrend so the pennant holds. I think it looks to be a 1-2 1-2 by the chart, so I am targeted 23 buy July. Stop-loss is around 9.25 for me personally
Hello! nice analysis, It has to break the $12 resistance I guess, then go to $22, I am just a bit worried with the fundamentals and the earnings announcements. I see some risk, what do you reckon?
NapoleonStockS
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@bourse7q329f, Sorry just seeing this. I actually see the same resistance (at 12), which is a nice confirmation on both our ends. My thesis on this one is that if GOGO gets momentum into 11s then most of the short positions will close. Without a catalyst I think it is likely to get stuck around 12