GOOS poised for upside

Updated

I think using FA, GOOS is definitely way overpriced and with uncertain prospects, but both TA and FA show positive in the coming short-run Q3 18 - Q4 18 period - price target of $10-$15 dollars upside.

A few FA forces are in place now:
Pre-Winter earnings Q3 18
NAFTA agreement (very unlikely for anything long-term to be strike without Canada
Continuing Chinese demand for the upcoming cycle
TA wise:
Inverse H&A seems to be fully formed for an upward breakout
RSI still within range, not oversold despite the upward movements over last two waves
MACD shows potential positive momentum
However, I also note a gap from the 2Q18 earnings boom, there is a risk of downward pressure up to $45 to fill the gap

Trade active

A little excited because the GAP that was previously mentioned is now filled.
With MACD and RSI indicators within range, and key support at 200EMA, still positive that there is potential upward movement

nyank1t

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