$GBT - Stage1 Consolidation base
What about 
GBT by Technique:
- The stock has entered stage 1 (Consolidation in progress) and has found support at $26.1, resistance at $36.5. It has been in this corridor since late June 21.
- The stock is now trading above the 30-week EMA, which might give us the first signs of a follow-through after the consolidation stage. The break-up of the 30W occurred in the low-volume range, so we have to wait for the confirming factors to confirm the growth. A break-up of the volume above the average and fixation above the level of $36.5 might be regarded as such factors.
- The 30-week EMA starts rising. This is one of the good signs that the rally might start.
- The Relative Strenght of XBI is above 0, which suggests that the stock feels better than the sector ETF. And relative to the S&P is still in negative territory, but it is also growing.
- Over the last 5 years, the maximum trading turnover has been in the $28.5 - $29.8 range, which forms a pretty good base for growth. In 2017, the growth started from this level and continued up to $62, which could give almost 100%
- The falling trend from April 20 was broken in October 21 and then there was a pullback to numa in December 21. And it was as a retest of that trend line that a very good weekly buy volume (4x) took place
- My growth targets would be in the $47-49 and $62-$63 range
GBT by Technique:- The stock has entered stage 1 (Consolidation in progress) and has found support at $26.1, resistance at $36.5. It has been in this corridor since late June 21.
- The stock is now trading above the 30-week EMA, which might give us the first signs of a follow-through after the consolidation stage. The break-up of the 30W occurred in the low-volume range, so we have to wait for the confirming factors to confirm the growth. A break-up of the volume above the average and fixation above the level of $36.5 might be regarded as such factors.
- The 30-week EMA starts rising. This is one of the good signs that the rally might start.
- The Relative Strenght of XBI is above 0, which suggests that the stock feels better than the sector ETF. And relative to the S&P is still in negative territory, but it is also growing.
- Over the last 5 years, the maximum trading turnover has been in the $28.5 - $29.8 range, which forms a pretty good base for growth. In 2017, the growth started from this level and continued up to $62, which could give almost 100%
- The falling trend from April 20 was broken in October 21 and then there was a pullback to numa in December 21. And it was as a retest of that trend line that a very good weekly buy volume (4x) took place
- My growth targets would be in the $47-49 and $62-$63 range
All ideas only for information.
Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.