Credit to @kcty for tipping me off on this ticker. If you look at the long term resistance trendline (dashed red), you'll see it's converging quickly with the recent support trendline (solid green). I don't think recent support trendline will hold, but if it does, look to enter in the breakout window. Not much resistance above the TEMA 200.
The minor pullback window has support at the bottom of the regression trendline , the TEMA 100, the TEMA 50 and the .382 fib level. The major pullback window has support at the long-term uptrend (dashed green) and the .618 fib level. It's a gamble to combine a swing trade with a play on an earnings report, but there's a beautiful potential setup here. GOGO has posted earnings beats for the last three quarters. A positive catalyst could launch a breakout to 8.00. I think your worst-case scenario on a poor earnings report is the 3.52 floor. If the timing of a minor pullback or major pullback occurs immediately prior to the ER date, the risk is comparatively low to the potential windfall gain on the bounce with a positive catalyst. If you're playing a pullback, I'd recommend confirming entry with an MA crossover or MA-BB crossover before taking your position.
I'll link a screenshot below to give you a better picture of the resistance trendline.
GLTA
The minor pullback window has support at the bottom of the regression trendline , the TEMA 100, the TEMA 50 and the .382 fib level. The major pullback window has support at the long-term uptrend (dashed green) and the .618 fib level. It's a gamble to combine a swing trade with a play on an earnings report, but there's a beautiful potential setup here. GOGO has posted earnings beats for the last three quarters. A positive catalyst could launch a breakout to 8.00. I think your worst-case scenario on a poor earnings report is the 3.52 floor. If the timing of a minor pullback or major pullback occurs immediately prior to the ER date, the risk is comparatively low to the potential windfall gain on the bounce with a positive catalyst. If you're playing a pullback, I'd recommend confirming entry with an MA crossover or MA-BB crossover before taking your position.
I'll link a screenshot below to give you a better picture of the resistance trendline.
GLTA
Comment:
