GSX has had a run that has seemingly defied logic to some bearish investors, but the overall move it made after clearing the previous ATH was relatively healthy. Despite a massive bear campaign a few months back the stock has churned to massive new highs. However, all good (or bad if you're a bear) things come to an end. It is now due for a correction, and will likely find a topping point around the 71.21 level. This leaves the ideal opportunity for shorting.
Impulse price point (top): $70-$71.21
Overall corrective target: $49.14
Impulse price point (top): $70-$71.21
Overall corrective target: $49.14
Comment:
Alternate high for GSX isright below the $80 price point - 79.50 region, if this breaks, shorting this stock is just a dream.