0IYQ trade ideas
GOGO getting ready for the next move upGOGO looks like it could be consolidating at the $20 mark and getting ready for the next leg up to retest highs at $23.69. Volume has been drying up in this base and recent pocket pivots suggest institutions could be buying this up. With volume a move over $21 could see $23 again and possible ATHs
$GOGO $GOGO :
BASIC TECH ANALYSIS
The chart shows an obvious pattern after every huge pump there is a small 25-30% dip before retesting the ATH and supposedly reaching a new one. After that we see the big dip of about 50%. Currently, we are at the 25-30% dip, so we can expect a retest of the ATH and maybe reach a new one.
This is my first published analysis, i tried my best hope you like it.
Long - Looks like a very strong upside candidate
1 Price above VWAP, 200D, 100D and 50D SMA: Yes
2 100D SMA > 200D SMA: Yes
3 50D SMA > 100D SMA: Yes
4 200 SMA trending up: Yes
5 100 SMA trending up: Yes
6 50 SMA trending up: Yes
7 RSI > 70: Yes
8 Clear past: no resistance Yes
9 Above 52WH: Yes
10 Recent high volumes: Yes
11 Increasing Revenue: Yes
12 Expanding Margins: Yes
13 Sector Outlook: Positive
14 Pattern: Huge cup and handle
15 Held well since beg. of Jan 2022: Yes
16 Market Position: Leader in inflight internet in NA
17 Entry Target: $16-$17
18 Stop Loss: $14
GOGO | Approaching Resistance | Short with CautionGogo Inc ( NASDAQ:GOGO ) is approaching resistance in its channel near $20-$21. It may be a good short opportunity at this level. However... waiting for it to dip and hold below the 10 EMA (pink line) may be a better short entry. The worry here is a squeeze with an 80M float and 37% short interest if the market continues its upward trend (or there is a melt-up). But if it doesn't break through resistance, it may dip to $17 or below in the weeks ahead.
GOGO - Heart Eyes Monthly Chart - *ON WATCH*So this is the sexiest monthly chart of all time lol. Talk about straight pattern, lines, tops and bottoms. Anyways I am going to set some alerts on this one I think it will actually completel reverse trend soon. Once again a matter of when, but absolutely coming to and end here.
Is GOGO finishing its pennant?Fifth count of the pennant at localized .786. This is a tight stop loss trade for me but I think there is huge reward. Close to 40% short intertest on this stock, so a leg up could cause a huge leap. It clearly is still in an uptrend so the pennant holds. I think it looks to be a 1-2 1-2 by the chart, so I am targeted 23 buy July. Stop-loss is around 9.25 for me personally
GOGO is a no go todayVictory Capital Management Inc. purchased a new position in shares of Gogo Inc. (GOGO) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 28,216 shares of the technology company’s stock, valued at approximately $272,000. Other institutional investors have also made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Gogo during the 4th quarter worth $106,000. IFP Advisors Inc purchased a new stake in Gogo during the 4th quarter worth $142,000. Schonfeld Strategic Advisors LLC purchased a new stake in Gogo during the 3rd quarter worth $142,000. Arizona State Retirement System purchased a new stake in Gogo during the 4th quarter worth $154,000. Finally, Metropolitan Life Insurance Co NY purchased a new stake in Gogo during the 1st quarter worth $73,000. 43.32% of the stock is owned by hedge funds and other institutional investors. A number of equities analysts have weighed in on the stock. JPMorgan Chase & Co. cut shares of Gogo from a “neutral” rating to an “underweight” rating and set a $10.00 price objective for the company. in a research report on Monday, February 1st. Zacks Investment Research cut shares of Gogo from a “buy” rating to a “hold” rating in a research report on Tuesday, February 2nd. Morgan Stanley reissued an “equal weight” rating and issued a $13.00 price objective on shares of Gogo in a research report on Monday. Finally, William Blair cut shares of Gogo from an “outperform” rating to a “market perform” rating in a research report on Wednesday, January 27th. (Posted by Ed Jones on Mar 2nd, 2021). Do your own due diligence, your risk is 100% your responsibility. You win some or you learn some. Consider being charitable with some of your profit to help humankind. Small incremental steps work : If you double a penny a day for a month it = $5,368,709. Good luck and happy trading friends...
*3x lucky 7s of trading*
7pt Trading compass:
Price action, entry/exit
Volume average/direction
Trend, patterns, momentum
Newsworthy current events
Revenue
Earnings
Balance sheet
7 Common mistakes:
+5% portfolio trades, risk management
Beware of analysts motives
Emotions & Opinions
FOMO : bad timing
Lack of planning & discipline
Forgetting restraint
Obdurate repetitive errors, no adaptation
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Trading View app!, Brokerage UI
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Reading books, playing chess
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Checkout my indicators:
Fibonacci VIP - volume
Fibonacci MA7 - price
pi RSI - trend momentum
TTC - trend channel
AlertiT - notification
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