SKLZ: Review I - near 1st Target
Hello Investors and Traders,
let's quickly review our buy recommendation for Skillz made on June 17th, or 2 weeks ago.
Truth is that at that time SKLZ was in its early recovery stages and therefore buying was appropriate especially for those,
who also wanted to invest in the great fundamentals of this SaaS Company.
So far, on a technical basis, Skillz performance has been much better than expected moving steadily higher since then and now having generated a CUP & HANDLE, which is very bullish pattern. Volume has also been improving, although not as much as desired. Right now the first most important Target to reach is around $24,57, which also is a very strong resistance, as previously in march it represented an important support, but therefore now it became a counter factor. Nevertheless, if the overall market conditions for growth stocks keep on track I expect this resistance to be taken soon and then the next important Target (Target 2) is $29,58, which represents another strong resistance.
Lastly, for those who were not willing to buy at that time around June 17th, I'd say that now still is a good moment to buy as SKILLZ outlook is still very promising on a technical as well as on a fundamental basis.
Good luck to all, who are and will be invested!
let's quickly review our buy recommendation for Skillz made on June 17th, or 2 weeks ago.
Truth is that at that time SKLZ was in its early recovery stages and therefore buying was appropriate especially for those,
who also wanted to invest in the great fundamentals of this SaaS Company.
So far, on a technical basis, Skillz performance has been much better than expected moving steadily higher since then and now having generated a CUP & HANDLE, which is very bullish pattern. Volume has also been improving, although not as much as desired. Right now the first most important Target to reach is around $24,57, which also is a very strong resistance, as previously in march it represented an important support, but therefore now it became a counter factor. Nevertheless, if the overall market conditions for growth stocks keep on track I expect this resistance to be taken soon and then the next important Target (Target 2) is $29,58, which represents another strong resistance.
Lastly, for those who were not willing to buy at that time around June 17th, I'd say that now still is a good moment to buy as SKILLZ outlook is still very promising on a technical as well as on a fundamental basis.
Good luck to all, who are and will be invested!
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