GTLB Long Setup — Swing to $56GTLB has been building a solid base and is now showing signs of a breakout. Price has pushed above the key R1 pivot level around $50.68 and is holding above both the Ichimoku cloud and the 200-day moving average, which confirms a shift in momentum toward the bulls.
The chart structure shows a series of higher lows since early summer, signaling accumulation and improving demand. Immediate resistance sits at $54.85, followed by R2 at $56.30, which lines up as the first target zone. On the downside, support around $49.20–$48.50 has held multiple times and provides a clear level to place stops.
The risk/reward on this setup is favorable at roughly 4.5:1, with only about 2% downside against 8–9% potential upside. If the price closes below $49.20, this setup is invalidated, but as long as buyers defend that zone, the path of least resistance remains higher. A clean breakout and close above $54.85 would confirm continuation, with $56+ as the next logical upside target.
