Potential massive bullish reversal on growth stock GILTHere's a weekly chart of GILT on a logarithmic scale to be able to capture the entire lifespan of the stock while still being able to see the price action that's going on at the bottom.
Let this settle in. At the peak this stock was $3,360. Now it's selling for $6.09 a piece.
The weekly chart has been seeing higher lows since '08, just bouncing of that ascending lower trendline time over time again.
With 14 consecutive significant surprises in earnings and/or revenue quarter over quarter since 2021, a huge uptick in volume since early 2020, a golden cross on the daily today 12/4/24 immediately causing a massive spike breaking through an important resistance at around $6.25 and then retracing to a support level around the current price level of $6.10. With a post-market valuation of $6.17 and the MACD currently happily ranging over the zero lign, combined with strong fundamentals I'll leave to the Zack's analysis for now, this could be an excellent time to enter a long term growth stock at a premium. Surely we will see more swings the coming period, given the technicals, fundamentals and the satellite broadband industry they are in, I am accumulating!
