To GOGO or NOGO is the question

Well, when I woke up this morning GOGO was down 11+% due to (good!) earnings. When I closed my laptop after the bell, GOGO was “only” down 4.6%, and put in a nice bullish hammer. It also found support at $14 and closed the gap. Nate eludate to this a while back (kudos!!!!) and the 50-76% fib retrace levels for a wave 2/b suggested this could occur. Looking at the Technical Indicators, we can see in fact + div on the daily RSI(5) -not shown- and how the bollinger bands didn’t budge with this close. Let’s see if we can get some upside going. If it does, and if it does so in 5 waves, then we’re golden and looking for a price target in the $25 area, ideally. For now, let’s track it for the next few days and see what it does. I haven’t initiated a position yet.

GOGO update 08112014

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2 thoughts on “To GOGO or NOGO is the question

  1. Wow, that was fast. Ha, Ha, thanks for your take and let’s hope it’s a GO! I looked at the hourly and 10 minute, and I see 5 small waves up. A 50% retrace ($14.77), happens to hit the 61.8% retrace of what we’re hoping was wave 2 (fib confluence). If price rallies from there to over $15.50ish, buy time. The caveat here being, counting waves on lower time charts can be problematic, at least for me.

    Thanks Soul!

    • you’re welcome. i agree with your analyzes. and you’re first comment came while i was analyzing gogo and thinking of an update. great minds think alike. jcp update also posted. time to go nite nite!

      gl!!

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