Dont think it has bottomed yet$22 level might be tough to break. think it goes lower to retest the $18 level and bounce back. (no position)
GOGO trade ideas
Always respect lockup expiration dates.Many momo stocks have small floats. Always respect lockup expiration dates.
Always respect insider lockup expirations.Many momo stocks have small floats. Always respect the lockup expiration dates.
GOGO, where will it go from here?GOGO broke the neckline (red dash line) of a head and shoulder pattern with huge volume on Dec 18. It has been moving within a declining channel since then and touched the lower edge of the channel last Friday. The price is close to several supports right now: (1) the lower edge of the declining channel (2) the support line connecting the lows of Nov 19 and Dec 24, and (3) 0.5 Fib level at 22.70.
Where will it go from here? The breakdown of the HS pattern has a measured move to around 20.00 (see dotted lines 1 and 1') and also suggests that the declining channel is likely a continuation pattern in nature. If that is the case, it has a measured move to around 17.70 (see dotted lines 2 and 2'). Therefore, a measured move range is formed (20.00 - 17.70) which covers the lower edge of the gap, 19.00.
Conclusion: If the above mentioned supports fail to hold, the price is likely to find support near the lower edge of the gap between Nov 8 and 11. Let's see how well these supports work in next week.
4 bullish signals for GOGO stock at the 4-hour chartgoo.gl I just bought some GOGO shares one minute before the closing bell of US stock market. Here's why:
1. Long-term uptrend. Trend line is my guide for direction of trade.
2. Double bottom.
3. GOGO stock price retraced to 61.8% Fibonacci level. Double bottom formed on that specific level!
4. A couple of bullish candlestick patterns are printed on that particular support level, like the doji candlestick a week ago.
Chart's profit target is set for illustration reasons. First profit target is at $27. Even at that level, the risk/reward ratio is huge for my standards! Imagine the stock climbs back to the all-time high!
Gogo Falling Wedge and Breakout ConfirmedGogo, a recent ipo, has been in a falling wedge pattern recently and broke above that trend today on large volume, even after an 11% gain, this stock still has more to go as this bullish pattern has been confirmed and should have continuation as time goes along, RSI is rising, volume is higher than average and MACD was falling but starting to curl up
GOGOGOGO finish fri 11/8/13 with a bullish engulfing pattern. this stock also reports this morning. the companies fundamentals support the charts. love the companies business direction.
