GoDaddy Support LevelsGoDaddy - We have seen the Golden Cross on the Daily, the MA 50 moves over the MA 100, a sign of a bullish market again. This happened early January, so we expect a bullish return. This can be tested soon, as Crosses tend to have a second interaction after first crossover. Overall since 2017, we have a Bullish Symmetrical Pennant, which will be a continuation pattern of the Bullish Market we have seen. This may not come into play for a long time, for now, we see consolidation.
Current SHORT TERM upward channel has reversed and the first Fib Retracement line of 50% is being tested. If this breaks, the next level down will be short term level of 61.8% (around $65-$66), and last chance for short term bullish continuation.
If this line breaks, we have a long term 38.2% still in play, this bullish pattern reversed and bounced off the 50% line. This remains a bullish channel, and can be seen as the very first consolidation for a much larger pattern.
When you look at Earnings, this company has started to outperform several quarters a year. Analysts prices remain around $88 for a 12 month period. We could easily see a drop down to $65.50 or even down as low as $63. However, if bounces off this 50% or 61.8% line with LOTS of volume, be ready for a rally up to $70-$74 - even up to $77.
