$GTLB confirmed a BUY$GTLB broke the wedge to above and technically this could be the first entry with a tight SL below today's LOD (Low Of Day)
GTLB trade ideas
GITLAB is overvaluedFundamentals:
- has massive competitors such as Microsoft (MSFT), Amazon (AMZN), Oracle (ORCL), International Business Machines (IBM), and Atlassian Corp (TEAM)such as Microsoft (MSFT), Amazon (AMZN), Oracle (ORCL), International Business Machines (IBM), and Atlassian Corp (TEAM)
- competitors are all profitable; Gitlab is not.
- Gitlab's NOPAT Margin is -141% and ROIC is -76% .
- As of June 2021, GitLab had 30 million free users with just 15,356 paying users . GitLab has converted less than 1% of its user base.
- 13.65 Billion Marketcap is definitely ways too high
- 2 Analysts lowered their pricetargets for Gitlab after they released their earnings on 6th December. JP Morgan gave GTLB an neutral rating at 99$
Technical Analysis:
- looks like its bear-flagging: rising on very low volume. The long wicked candles reinforced the assumption.
- got rejected 2 times at 97$ resistance area in the last 2 days. Buyers losing momentum.
$GTLB is giving a GREAT IPO LONG opportunity todayIPO intraday trading strategy idea
The share price is rising and gonna continue this trend today.
The demand for shares of the company still looks higher than the supply.
These and other conditions can cause a rise in the share price today.
So I opened a long position from $94,37;
stop-loss — $90,98;
take-profit — $104,54/MOC price.
Do not view this idea as a recommendation for trading or investing. It is published only to introduce my own vision.
Always do your own analysis before making deals. When you use any materials, do not rely on blind trust.
You should remember that isolated deals do not give systematic profit, so trade/invest using a developed strategy.
If you like my content, you can subscribe to the news and receive my fresh ideas.
