Am I making it up, or did someone (probably on_pphire) say there was something significant about $6.70? I presume there is likely to be battle at $7.71 based on the convertible bond, but that's just a hunch.
How we haven't gone parabolic yet is mystifying and only explainable by the complex financing that GTAT is involved with.... Regardless, I agree with On_pphire's short term PT and possible retrace before the September 10th Iphone 5s announcement, but a retrace shouldn't be too vicious with so many shorts needing to cover(margin calls and impending good news).
I'd like to own a stock and watch it go parabolic.... Let's see $10.00 sooner than I expected and bring Christmas early or Hanukah.
Do you know how many things we are expecting GTAT to potentially announce Q3/Q4? There has to be room left for a rally on some big news, you know like winning the Saudi Arabia bid. How far do you expect it to go just on optimism? Honestly I did not even expect it to go this far before it even got to the "real deal".
As for a retrace, it will be met with massive buying at mid and low $5's. There is an enormous supply of trapped shorts and underweight inst's that will rush to buy at those levels. Of course this is barring some actual bad news that can really move fair price for this.
6.68 area because it was the bottom of a previous candle last year was important. but recently I did say 5.74 had no significance and not to make a move there.
I am looking for at least 7.09 on this move but somewhere in 7 we'll have to hit a short term top and retrace, but I'm looking at a chart like HAIN that went up and up and up and up, so even thats possible, we know intraday and a sideways daily candle can drag stochastic down enough to get another spike going