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!
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!