As with all trends, they must come to an end. GTAT has been in a multi-year downtrend losing most of its value. Trends often change direction as a result of a reversal pattern, in this case, an Inverse Head and Shoulders Pattern.
We’ll look for a breakout above $3.85, or $4.00 if you want to play it a little safer. The bummer about this setup is that there’s some pretty strong overhead resistance shown on the chart, but the trade could be good .for 20-25% based on the minimum target, which takes us right to that upper trendline resistance! An additional breakout upward could really be a windfall if $5 is surpassed and offers an additional buying opportunity.
I've put up the chart and more discussion on Stockineer as GTAT just got my attention as a possible trade setup. A breakout could bring a lot of attention...it couldn't quite do it on Friday although it tried. I could see the price rising rapidly from $4-$5 if this pattern can play out....if not much more than $5.