GOGO
GOGO looking very strong bol="NASDAQ:GOGO"]NASDAQ:GOGO keep looking strong the entire time (even during when markets go down). It is now makeing a bull flag on top of another bull flag. In the new bull flag we can see a asematrical inverse head and shoulders pattern. This one seems to go higher once again.
GOGO moving upI like GOGO to move off this current support and make its way to the $27 range which is a mirror in length as shown in Orange and hits a 1.618 if you like your fibo's. Some resistance (or first targets) would be at the old high of $22-ish, and the $24-$25 zone from previous highs and where I think the 1.27 could chew up some momo.
DD - 3rd Leg in a 3 Drives Bull channel; finding supportThis looks like it will end up being a nice 3 drives bull channel, and we are near the channel support, and will be looking for a nice bull trend bar or a high 1 pullback entry bar to buy.
I was also looking at the possibility of a small trading range (between points B and C). That is also setting up support and will likely have a successful bull breakout.
There seems to be much more buying pressure since August began, with many of the bars being strong bull trend bars closing at the highs. More recently on the daily, bear bars have accounted for less than 40% of the bars. The bull bars have also been generally stronger.
I would expect an AB=CD for the final leg of a three drives, as it also tops out perfectly at channel resistance.
The price is also finding support above the trendline that goes from upper left to lower right and ends at point C.
More sideways action wouldn't suprise me, especially an inside bar tomorrow. That would put it in breakout mode. This will take the price to the trendline while staying above 65.90 support.
Buy on a strong bull trend bar or a high 1 pullback entry bar. Less aggressive traders could buy above clearance of the trading range resistance (66.40). Failure unlikely given buying pressure.
GOGO-H&S Bottom, Bull pullback, Fib level; Buy only on bull bar!GOGO is forming the following bullish setups:
1) Head and shoulders bottom, but not yet completed
2) Pullback in a strong bull trend
3) Broke out of trendline, and breakout failed, thus pulling back perfectly to the trendline
4) Price is at a 50% retracement level from the $20 swing high
5) Bull channel and trend in progress
This looks like a good setup for a high 1 buy (bull bar closing above prior bar's high in a pullback of a bull trend). If the high 1 fails, look for high 2 ABC correction.
I would ONLY buy when the price exceeds the prior bar's high (high 1). If you're aggressive you could buy the right shoulder but it may fall lower.
The last pullback was an ABC correction so a high 1 may fail. The highest probability would come from a neckline breakout on a strong bull trend bar (hopefully with no upper tails).
We may see a flag/1-bar pullback at the neckline. The next resistance is reached at $20 (red line, prior swing high) which is great for profit taking.
If the price breaks through 20, expect a pullback. If the pullback fails and we move higher, the bull channel (pink) may be in place and will establish a nice resistance level.
Remember, I am ONLY long on a high 1/ high 2! No position today... watch the close!
UPDATE: I don't know why the channel is so high to the upside but it should be touching the trading range in june, july.