Gilat Satellite Networks share price has been consolidating around the 10 dollar zone
On the daily chart, we see a potential break out with momentum indicator showing bullish vigor in the second panel
This signal is relatively young and we want to see confirmation via further development in price action
Bullish Pennant, awaiting confirmation
Descending volume during formation
Volume at break out
Golden cross in blue
PPS above 50MA and 200MA
RS above 0, and ascending
R/R ratio above 6
200MA ascending, but barely
250RSI above 50
PT = 29.51$
GILT broke above both the 2 year resistence @ 10.75 and the 19 year(!) resistence @ 11.30 on 25 January on strong volume. It has since been consolidating in a bull pennant above the 19 year resistence (turned support) @ 11.30.
Good time to stake for those who is prepared to have a wide initial stop loss (below 11.0). Let's see if this potential home-run trade...
big breakout will happen if the big resistance at 12-13 breaks! great request. ill enter some at 13, stop loss 10 and target 30 with shares in the long term! amazing risk reward if the breakout happens. on watch next week! thank you, and goodluck as always friends :D leave a like!
I know there are rumors about ARKK investing in this but I think the news are priced in. Although long term this may go up, short term I believe will be a retrace. As of now the stock is Overbought on weekly chart and has a nasty "scissors" touching the 200 moving average. I would buy this but I will wait for a better entry IMO.