GNOG - We Aren't Bullish... YetNASDAQ:GNOG is another one of these "buzz" stocks that have TONS of potential, but just seem to be continually getting whacked. These stocks may take a while to find their bottom, so don't get crushed waiting for that to happen. When this stock breaks above the resistance line displayed on the chart, that is when we will start pouring the SCOTCH.
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Goldennugget
GNOG fib based support/resistance Smashed earnings. Here's an example of how the market is irrational.
Take a gamble on GNOGIf this stock has another pump left, it may look something like this.
Anything under $19.00 is a good buy, under $17.00 is better, stop losses at $14.75
Let's go crystal ball!
$GNOG - Huge opportunity with potential catalyst!Re-posting since TV took down my original post from yesterday.
With most SPACs we tend to see a post-merger decline as traders take profits. However, if the new ticker is a company that has tailwinds behind it then we often witness a rally after the retracement finds support. GNOG is now sitting at the 50 MA after forming a double top . There is also hidden bearish divergence between the price and the oscillators.
Catalyst Watch - Governor Cuomo has been making noise recently about how New York state could benefit from legalizing online gambling. There are rumors that this could be brought to the table for serious discussion as early as this week. Michigan might also be starting up online gambling as early as this week.
GNOG is already profitable and has a better balance sheet than DKNG ( DraftKings ). I like the 1-2 punch combo of technicals and fundamentals here.
Short term price target at $25
SL set at $17. If the price drops below will re-enter trade at 100 MA
