Hi Ray, guess it's just you and me here all alone... <ggg>
<<What are you looking at for an upside target?>>
Well, allow me to simply say that, "My prediction is that GTIS will be going up this year, reaching at least the 12's, and 18 months from now over 15. I'm not a stock advisor, and no one should take my prediction as advice..."
OH!! Sorry!! That was Scooter speaking in reply #1482! And, he was quite correct that GTIS would be going up this year. <ggg> I only hope that for his sake that some of the options he's holding did not expire back in April... :o I'm sure that his other predictions will also hold true, though I am not in agreement with the time periods that he stated and from my perspective, being a TA type, they are rather vague with regard to actual targets. Then again, Scott is not a technical analyst, he is G.O.D., so I would not expect him to sweat the 1/8 or 1/4 points like we traders do. :) Nevertheless, giving credit where credit is due, GTIS has gone up and has almost reached the 12s this year. ;) (Oh, ignore me, Scott...I know you are so good at doing that anyway, and I'm just in a playful mood again...sorry Tennessee!!)
My read, FWIW, is as follows:
The current resistance is at 12 3/4 - 12 7/8, which I would expect to be the shorter term top for the next run, no later than the beginning of June, following E3, but probably before that if the momentum continues. 12 is not an issue for the stock, being a midpoint between the current support and resistance levels. Interestingly, though the TA and E3 are independent events, they do coincide perfectly here. I see support now as being in the upper 9s to low 10s following the confirmation we received today of which I spoke earlier, but primary support remains at the upper 8 to low 9 level. In other words, should the volume dissipate, or should there be some unfavorable news, I would expect that the stock could fall all the way back to the primary support level, but if there is nothing negative looming, or conversely more favorable news, I would assume that the secondary support at ~10 would hold during any bout of profit taking or generalized market weakness. Or Scoot's reappearance here on the thread. Any of those things could cause GTIS to take a bit of a plunge. Tee hee hee (Sorry, I'm just reminiscing today...LOL!)
Following the run to ~13, the next line of resistance appears to be at the 17 range. Considerable momentum will be necessary to boost GTIS to this mid-teen level, but it is not improbable particularly if the interest continues in the stock as of late, in conjunction with some decent earnings this quarter. I do not see the 20s at this time as being right around the corner, however, (and here comes my disclaimer!), as each new line of support and resistance develops, we will need to reevaluate the chart at that time, so please keep in mind that the above blather is just a guesstimate based on past performance. "Past performance is not indicative of future performance." LOL
For right now, I will hold for the ~13 level in my trading position, and will exercise into some of the calls should it appear to maintain its strength post E3 as more of a midterm play. Otherwise, I will blow the entire position and re-enter if warranted on the next pullback to a secondary support level.
Hope that answers your question sufficiently. [gulp!]
Happy trading, happy days!
xoxo,
V.
P.S.
Where are the rest of you guys?? Are we no longer interested in having some Good Times?? :)
S.P.S. [editing]
Hey, kewl....this was my 999th post to SI!! I therefore cannot post any longer as I've used up my allotment! Are you guys happy now?!?!? <ggg> |
