Fundamentals:
Looking at Globant (symbol: GLOB) that Argentinian-based company, they focus on digital transformation and cognitive instruments involving AI, VR,AR and screenless UX.
According to their investor presentation, they operate in "56 offices in 36 cities throughout 16 countries."
From 2014 – 2018, a 27% Revenue CAG
91% of LTM Q3 2019 Revenue from...
- Globant respected its former channel from 2015 - 2019 with great consistency.
- The current price action suggests a new channel is forming and bouncing from the lower range of the channel.
- Weekly breakout confirmed last week.
Entry level $114.00 on the breakout
Target price $128.55 to Fibonacci expansion target.
RSI in very strong uptrend with plenty of room to run higher.
Bullish volume increasing, will look for a major volume spike to confirm legitimate breakout.
Globant SA engages in the provision of information technology services. It offers application development and...
An IT solution company with some big client such as Disney, American express,
coca cola, Dell, cisco and Walmart .
Had a nice run of about 90% on 2019 .
I don't like its poor volume but it
Looks like we have formed an ascending triangle .
Great earning and this name is not one of the names where traded by many. No action after hours but during hours it will be near 88 tomorrow.
Own few shares too.
GLOB is on channel line support with weekly stochastic divergence. This move could happen quickly or there could be some consolidation first, be patient.
Buy: 41.75
Target: 42.66 - 44.28 (2.20% - 6.05%)
NYSE:GLOB is extremely oversold and is approaching major support level of $32.6, I will wait for a higher high and higher low on hourly and then enter for a target of $36.
