JimMakos
Long

4 bullish signals for GOGO stock at the 4-hour chart

BATS:GOGO   GOGO INC
350 0 3
http://goo.gl/kcsDIO I just bought some GOGO shares one minute before the closing bell of US stock market. Here's why:

1. Long-term uptrend. Trend line is my guide for direction of trade.
2. Double bottom .
3. GOGO stock price retraced to 61.8% Fibonacci level. Double bottom formed on that specific level!
4. A couple of bullish candlestick patterns are printed on that particular support level , like the doji candlestick a week ago.

Chart's profit target is set for illustration reasons. First profit target is at $27. Even at that level, the risk/reward ratio is huge for my standards! Imagine the stock climbs back to the all-time high!
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