GAP looking to fluctuate a little more before fallingLooks like NYSE:GPS is following a strong retracement pattern, which it should fall back down on around the dark green, probably around the same level where it started the mountain. MACD histogram as well as the MACD/signal pattern seems to agree with this at least in the short term.
I would suggest buying once it gets back down around the $20 level, but it would be best to wait for the right shoulder to form before confirming this. For now, stay neutral and see how it plays it.
GPS trade ideas
GPS - Getting ready to break out of a 20 year base ?!I'm late to the party here but we have clean price action and wave count, we can therefore take advantage of the smaller mouvements not only the bigger ones.
In this case, I'm waiting for the orange wave iv pullback to start initiating some longs that could yield some 20%-25% without much risk.
Red wave iv will be the more interesting move afterwards.
Btw this stock has been consolidating since 2000 and could get ready to breakout !
And you know the saying, the bigger the base, the bigger the breakout !
So, definitely keep this one on your watchlist and even think about putting it on your longer term portfolio.
Another very interesting aspect is that Dividends could come back soon!
Long | GPSNYSE:GPS
Possible Scenario: LONG
Evidence: Price Action
This is my idea and could be wrong 100%.
GAP RANGE BOUND GPS LOOKS LIKE IT IS CONSOLIDATING AND WILL SOON GIVE CONFIRMATION FOR UPWARD TREND. NYSE:GPS
