I posed about this trade forming on August 9th link below. GH reached its ascending triangle price target.
NASDAQ:GH has been moving sideways for 2+ months forming an ascending triangle with a very well defined resistance line. The stock reported earning last week and looks set to breakout this week.
Once it breaks above 87, then expected to hit those trend lines.
If this continues to be a cult stock, then it can shoot to $100 or burn down...
sales expected to break above $200 million this year, representing over 125% annual growth. This will push the price momentum towards USD 150+ long term. Short term technicals look positive for bounce upwards.
I'm sure this company has a lot of really compelling reasons why they're going to make their valuation make sense at some point in the future but right now the company is worth 67% more than $SHOP which is arguably the most overvalued stock with a market cap above a billion. My guess is we test $60 soon, bounce off $60 to around $65 and then proceed lower...
Th e prices are near the SMA 200 D. Long from this level winth stop indicated. Probabli is an ABC movement.