GDYN LongAnother pullback trade, will it do a VERA? R/R is on the lower side above 2, taking it still.
GDYN trade ideas
Looking for higher highs?, $GDYN has themGrid Dynamics accelerate digital transformation of Fortune-1000 US enterprises. They specialize in customer experience, data analytics, and cloud. They compite with the likes of NYSE:EPAM , NASDAQ:CYBR and NSE:INFY .
The price made its lowest low in mid March and since then has made a good bull run. Now $GDYN is making a good looking descending triangle, the only bad things is that it price is below the 50-day.
Still, as we are currently in a bear market, this is the kind of charts that I'm looking for. RELATIVE STRENGTH is the name of the game now. Combine this with the good fundamentals it has and it should be a next leader.
I'll wait and see.
US Stock in Play: $GDYN consolidation pattern upon earnings gap up. strong relative strength during the first two weeks of december correction. the longer this consolidate, the more conviction (position sizing) i will be putting in on this trade
GDYN, Long I particularly like how the cup and handle pattern breaks into new highs in the right side , then fails and forms a great descending handle. Now we have a break out and last few days of volume look good with validation .
entry at 17.12 with a stop under lod at 16.68.
GDYN LongGDYN has a price target of eventually 20$ and eventually 30$.
This is a beautiful line with a gradual uptrend and a few natural pull backs.
It has earning and this is very significant and a very important aspect to look into.
The company only missed the Q1 target and Q2, Q3 and Q4.
Stock Price History:
52-Week Change 3 58.92%
S&P500 52-Week Change 3 39.40%
Share Statistics:
% Held by Insiders 1 60.20%
% Held by Institutions 1 42.63%
Balance sheet:
Total Cash (mrq) 112.75M
Total Debt (mrq) N/A
Total Debt/Equity (mrq) N/A
Share Statistics:
The company as a low # of shares shorted
Top Institutional Holders:
One of the top institutions are Vanguard Group, Inc. (The)
Price Action & Psychology - Double bottom reversalHello !
Key points :
Double bottom, cluster of candlesticks on first bottom
Narrow range + low (relative) volume
Buying pressure on downtrend
I'm defining the resistance (previous support) based on the second gap (Gap2), on the distribution area and on the clear 3-candle swing high.
To clarify, above the drawed resistance (previous support) we had a distribution period, followed by a move to the downside (see the spike in volume and the wide-range candles).
The selling formed a cluster of 3 candlesticks, defining a pretty strong support.
The last selling wave, that formed the second bottom, is pretty indecisive, the volume is low, there's always some buying pressure and the candles are narrow, it's following the path of least resistance, i.e falling from it's own weight.
Weekly chart :
From a weekly perspective, the rejection and the gap up stress the irrationality of the move.
PS : I'm defining my stop loss based on the gap up (Gap1) that happened after the move to the downside from March.
Thanks for reading and if you have suggestions or want to discuss the idea, just leave a comment, I'll be happy to answer.
***Disclaimer : This is not an advice to buy the stock. Please, be aware that trading is a matter of probabilities and that it only takes ONE trader to deny your trade.***
