(GTK)Safe entry point to trade breakoutCame out of NZ, software business that takes care of revenue collection for utility co. Software collects and calculates bills - single most important software in those businesses. Smaller version of Hansen. In Intelligent Investor portfolio. Key UK market, no fault of their own - deregulation of utilities in UK caused a lot of them to collapse - share price tanked. Small exposure to airports - best turn around software play.
• Gaining momentum after a big rounding base patten.
• Filling up gaps from 2020 big drop.
• Turnaround play
In a low vol profile zone and looking to close big gap downs from Jan 2020.
ATR 1 has been spiking on the recent big move up at end of Nov-22, has been on an uptrend since.
Looking for a pullback to the most recent resistance area to provide support.
GTK trade ideas
GTK.ASX - Possible long trade opportunity - Technical AnalysisGTK - A good trade opportunity here in my opinion. Price is compressing and moving sideways very tightly, will wait for an entry on the break of the resistance line.
There is also a gap that needs to be filled at around $3.60, but I would be extra cautious in this period of uncertainty and high volatility in the market.
GTKIf breaks $5.60 should go to $6.40
then Sell look for next good move
Who knows really but thats my Guess based on ewhat i have learnt over the last few years purely Technical wouldn't have a clue how the company is doing i have concluded over the years it does not matter 1 iotta
What matters more is crossing of Moving Averages etc that will tell you more
News announcements of course take head of those if you are able and can be bothered checking the News announcements (After those in the know already have Brought or Sold the day before because that is how it works believe me i have seen it : )
NZ market is Fickal