Gannett Co - GCIThe stock witnessed a strong rebound after testing the uptrend line at $1.945 in the first quarter of 2024. violating the previous major peak at $3.60 last week and remaining above this level will confirm the uptrend in the long, medium, and short term. This will drive GCI to see further rises near 4.15 - 4.52 - 4.87 - 5.54 in the short term.
the indicators are heading toward the positive side, which confirms the mentioned positive scenario.
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GCI trade ideas
US Stock In Play: $GCI (Gannett Co. Inc)$GCI broke out of its two weeks consolidation, posting a gain of +9.76% at the closing session. The range of its intraday price action also witnessed $GCI resisted within a congested Uptrend Channel since 23rd December 2020.
With $GCI currently trading ($4.61) 45% away from its 52 weeks high of $6.74, the existing emergence of increasing volatility along with trading volume will likely put $GCI on a trajectory back towards its year high level upon a parabolic breakout of the current Uptrend Channel consolidation.
GCI about to spike again, perfect time to go short!Hello Traders!
Due to the 50 SMA crossing over the 100 SMA, the RSI moving upwards, and an optimistic MACD, we can expect the price of GCI to spike again in August. Right after the confirmed spike will be the perfect time to go short for a medium to long term, as the price is on a long-term downtrend.
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Please, maintain proper position sizing and risk management!