Green Dot Corp. (GDOT): Bullish Cup & Handle

in #money6 years ago

SUMMARY

Green Dot Corporation (GDOT) is an interesting request for analysis. It's weekly chart shows the very rounded bottom and it's direction is towards generating the Cup & Handle pattern. The handle however, is quite stubby and not very usual. Usually the handle retraces 38% of the rise. However, bear in mind that not all rounded price formations result in a Cup & Handle and so just remain as the cup and in effect, that could be the case.

The Elliott Waves show that an impulse wave is quite mature. Wave 4 is likely complete given the current surge of price out of the parallel channel. So, that leaves wave 5 and that could be somewhere near $90.

Legal Disclaimer: I am not a financial advisor nor is any content in this article presented as financial advice. The information provided in this blog post and any other posts that I make and any accompanying material is for informational purposes only. It should not be considered financial or investment advice of any kind. One should consult with a financial or investment professional to determine what may be best for your individual needs. Plain English: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.

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A cup and handle pattern on bar charts resembles its namesake, a cup with a handle. The cup is shaped as a "U" and the handle has a slight downward drift. The right-hand side of the pattern typically has low trading volume, and may be as short as seven weeks or as long as 65 weeks.
A cup and handle is considered a bullish continuation pattern and is used to identify buying opportunities.

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The tutorials were quite helpful

Interesting each time again. Thanks for sharing

Good to know.

Hey Haejin - thanks for all that you do. Could you please look at TVIX which trades on the NASDAQ.

  1. I’m not sure I understand this ETF or Stock or function as an investment
  2. What I do know is that it was once valued at a +30 million per share stock and it now trades for 5.41...is now the time to buy? It is for me, but I don’t understand why or what caused this fall and if it will ever recover any insight is appreciated

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