GAN: The Forgotten Horse In Online GamblingGAN is a provider of software for online and mobile gambling. They recently just expanded their portfolio of software from just backend software (regulatory reporting, payment services, location verification, player identify validation, account registration ECT.) to consumer facing software with the acquisition of CoolBet (streaming, betting data, betting odds ect.)
With strong partnerships with Penn National, Fanduel and William Hill they are positioning themselves with industry leaders and proving their software is the best in the industry. Soon I believe GAN will gain more customers and continue to expand the products they offer. GAN is overlooked by Wall Street because of the size but it is my favorite way to play to rolling legalization of sports gambling.
Technically, it broke out of it's recent trading range and downward trend line. It has since been making a nice move to the upside, and I believe will retest it's ATHs and make a break to the high 30s over the next 4 months.
GAN trade ideas
Cup and HandleWaiting for long entry level can help folks avoid possible resistance and also avoid a losing trade. I admit I do not Always do that but I do try. I was in this one before I saw the cup forming..so oh well (o:
The HL or Mid cup can provide support
In a bullish market, a security can reach 100% and above using fib levels.
100% is 44.22..
Cup depth is 15.17
Now rising wedges noted.
One way to calculate targets is by using cup depth and fibonacci levels added to the long entry level. Many place long entry level a smidgeon over the cup high to avoid the resistance that may lurk there
Not a recommendation/just an observation
Good idea to do your own research..The market will give you enough rope to hang yourself if you let it (o:
NV and OBV are high/no rising wedges in yearly chart
Cup FormingI do not see a true handle yet..if you do let me know (o: So possible cup and handle in formation
Waiting for long entry level can help folks avoid possible resistance and also avoid a losing trade. I admit I do not Always do that but I do try. I was in this one before I saw the cup forming..so oh well (o:
Mid cup can provide support
In a bullish market, a security can reach 100% and above using fib levels.
100% is 44.22..
Cup depth is 15.17
One way to calculate targets is by using cup depth and fibonacci levels added to the long entry level. Many place long entry level a smidgeon over the cup high to avoid the resistance that may lurk there
Not a recommendation/just an observation
Good idea to do your own research..The market will give you enough rope to hang yourself if you let it (o:
$GAN Gan Ltd Gets CNBC Pump, Potential Breakout Wednesday
CNBC top pick for 2021 resulted in a nice pop in the
stock today.
lets see if tomorrow can bring a break of trendline and open
the chart up for a move to the mid $20's.
POC and weekly candle resistance @ $20.90 is first major resistance block.
Interesting company. Have been doing my research on this company and so far the financials look good. They provide the software for casino online gaming, and expect this company to eventually go up along with this sector. Thinking of opening a position, but for now i will wait and see what it does the next few days.
Three Percent Trade Idea: Go long GANHere is a great opportunity to go long on GAN .
At Three Percent Trades we have a price target of $25 - $30 / share, which is a potential upside of 51 - 81% from the current level.
We use a combination of fundamentals & technical analysis to trade high probability set-ups, and believe this is a great opportunity to take advantage.
GAN getting ready for NFL kickoff!Bull case:
-hot sector > backbones of online casinos, like PENN
-nfl beginning!
-Earnings are forecast to grow 108% pear year.
-retraced to .618fib
-forming double bottom around whole number $20
-AO and Stoch showing a little divergence
Bear Case:
-price trading under heavy consolidation area between 20-21
-making lower highs and lower lows (head and shoulders pattern)
-under 20 and 50ma
-still unprofitable
Trade setup:
Easy 3-1 r/r
Entry 19.5
Stop 17.5
Price Target 25+