# GitLab's Code Surge #GitLab Inc. (GTLB) is demonstrating potential bullish momentum, with a significant weekly gap around the $50 level. A breakout above the $55.26 level could indicate further strength, positioning the stock to target the $69.47 resistance. This trade setup offers an attractive risk-to-reward ratio, with a stop-loss set at $48.40 to manage downside risk.
The Relative Strength Index (RSI) for GTLB was extremely oversold at 31 on March 10th, signaling a potential for a bounce. As of March 14, 2025, the RSI had exited the oversold zone, suggesting improving momentum.
Analyst sentiment remains positive, with a consensus rating of "Moderate Buy" among 24 analysts. The average 12-month price target is $75.52, indicating a potential upside of approximately 42.15% from the current price of $53.13. Price targets range from a low of $58.00 to a high of $90.00, reflecting confidence in the company's growth prospects.
Recent institutional interest further supports this bullish outlook. Summit Global Investments acquired 5,242 shares of GitLab in the fourth quarter, valued at approximately $295,000.
This combination of technical indicators, positive analyst sentiment, and institutional investment supports a bullish outlook for GTLB, with a potential move toward the $69.47 resistance level.
GTLB trade ideas
$GTLB - Bad timingNASDAQ:GTLB turned out I couldn't have timed it worse. 😂 During the bear market stocks always backfill their bullish gaps that they left behind. The first gap has been filled. The next gap is around $46 area.
There is a reason why technicians wait for patterns validation. Most wait for 2 to 3 session close above validation point. But what's the fun in that. 🤣
I will just have to endure this ride.
$GTLB is brewing ... Recent earnings estimate revisions for GitLab Inc. have been positive, indicating that analysts are optimistic about the company's near-term performance, which could be influencing the stock's potential upward trend. Plus the weekly chart showing a cup and handle pattern, which add another positive indication.
$GTLB - Cup and handle?NASDAQ:GTLB is forming a cup and handle while also forming an inverse head and shoulders pattern in a longer time frame.
If we can break above the $73 neckline area, we could see this run to the $90 area.
See support and target areas.
As always, I share my opinions and trades. I'm not suggesting anyone follow my trades. You do you.
$GTLB - Cup and handle?NASDAQ:GTLB is forming a cup and handle while also forming an inverse head and shoulders pattern in a longer time frame.
If we can break above the $73 neckline area, we could see this run to the $90 area.
See support and target areas.
As always, I share my opinions and trades. I'm not suggesting anyone follow my trades. You do you.
GTLB Swing Trade Setup Buy signal triggered yesterday when I added a small position. I increased it today after seeing confirmation. It's moving okay with volatility contraction. I am betting we will see a volume spike that will bring price up faster.
It's not a high risk trade and the back tests stats are good, so why not? Plus, I like the company :)
GTLB also seems to be undervalued.
I will probably get out before the "average days in trade" from the back tests.
Pushing Code, Pushing GainsGitLab is demonstrating strong bullish momentum, with a gap forming around the $50.00 level. A breakout above the $73.60 daily resistance would confirm continued strength, positioning the stock to target the $78.42 resistance. This setup offers an excellent risk-to-reward ratio, with a stop-loss set at $50.86 to manage downside risk.
As a leader in DevOps and software development solutions, GitLab is positioned to benefit from the increasing adoption of cloud-based collaborative tools. The company’s commitment to innovation, expanding customer base, and focus on driving operational efficiency enhance its long-term growth potential.
For a deeper dive into this setup, check out my YouTube breakdown, where I cover the technical analysis and the fundamentals driving this trade idea.
With its technical momentum and strong market fundamentals, GTLB presents an exciting opportunity for traders and investors aiming for $78.42.
NASDAQ:GTLB
$GTLB Would you bet on it?NASDAQ:GTLB is forming a potential inverse head and shoulders pattern with a measured move to $90.
The earnings report (ER) is after hours today. There is a risk that it could drop to $50.
Knowing that, would you bet on it?
As always, I share my opinions and trades. I'm not suggesting anyone follow my trades. You do you.
GTLB GitLab Options Ahead of EarningsAnalyzing the options chain and the chart patterns of GTLB GitLab prior to the earnings report this week,
I would consider purchasing the 68usd strike price Calls with
an expiration date of 2024-12-20,
for a premium of approximately $3.65.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
GTLB Builds an Engineering Paradise on Its Way to $78.50GitLab is showing strong bullish momentum, with a gap forming at the $51.00 level. A break through the $56.90 resistance would confirm further upward movement, targeting the $78.50 weekly resistance level. With an attractive 3.61 risk-to-reward ratio, this trade offers a compelling opportunity to capitalize on GitLab's upward trend, while managing risk with a stop-loss at $47.00.
GitLab’s position as a leader in DevOps and software development platforms, along with increasing enterprise adoption of cloud-native solutions, strengthens its long-term growth potential. As digital transformation accelerates, GitLab is well-positioned to capture increased market share, supporting a bullish outlook toward the $78.50 target.
NASDAQ:GTLB
GitLab reports strong Q2 earnings, surpasses expectationsGitLab Inc. has delivered a robust financial performance for Q2 , posting earnings of 12.3 million USD or 0.08 USD per share, a significant improvement from a loss of 51.2 million USD or 0.33 USD per share a year earlier. On an adjusted basis, earnings per share reached 0.15 USD, surpassing the expected 0.10 USD per share. Revenue also rose impressively, reaching 182.6 million USD, up from 139.6 million USD and exceeding forecasts of 176.9 million USD.
The positive financial outcome has led GitLab to revise its full-year earnings per share guidance upwards to 0.45-0.47 USD and its revenue forecast to 742-744 million USD. This update reflects a strong demand for GitLab's offerings and a robust operational execution.
Technical analysis of GitLab Inc. (NASDAQ: GTLB)
Looking at GitLab's stock for potential trading opportunities:
Timeframe : Daily (D1)
Current Trend : the stock is in an uptrend, having recently broken the resistance at 48.90 USD, which now acts as support
Short-term Target : if the uptrend persists, the immediate target is 60.55 USD, following the break above the previous resistance
Medium-term Target : if the bullish momentum continues, the price could potentially extend to 76.35 USD
Key Support : positioned at 44.50 USD
Downtrend Scenario : if the stock were to reverse and breach the support at 44.50 USD, it could target a lower support at 37.10 USD
Market outlook
GitLab's shares show strong bullish signals following the positive earnings report and upbeat revenue projections. The break above key resistance levels suggests confidence among investors in the company's growth trajectory. Traders and investors might consider potential entry points as the stock tests new highs, keeping an eye on the established support levels for risk management. The company's upward revision in financial guidance could continue to fuel investor optimism and propel the stock towards medium-term targets.
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8/21/24 - $gtlb - tough valuation high 40s. sidelines.8/21/24 :: VROCKSTAR :: NASDAQ:GTLB
tough valuation high 40s. sidelines.
- high 8x ev to sales great mid 20s top line growth
- what really worries me is getting NYSE:SNOW (flaked) when people realize that the sales expenses necessary to produce gross profit growth is temporarily stalled out
- product great. growth remains great. net cash... awesome. stock comp - massive and not helpful in light of the above.
- i just see no reason to neck out in this tape into print (especially bc the next few weeks will be choppy as is). if we get a rally into month-end i'd probably cut this if i owned it.
- just don't like the r/r. i would struggle to own it if they beat and i think all else equal a miss could send this down pretty large (15-20%) and i'd be wondering if i should add or cut. i don't like putting myself in those situations.
lmk if you see it differently. i'll root for you on the sidelines into this print on sep 3 but i can't add my capital to play along.