GLUU is in a rising channel. It's coming off a quadruple bottom going back to last November, and is currently sitting on a triple rising bottom with each low being higher than the last from mid March. Friday's close sits right on the 50 day MA. The 20 day MA crossed over the 50 in mid-March and continues to trend higher along with the 50. If the trend continues you will see a 'Golden Cross' (50 moving over the 200) by the end of May. If this happens then you're more than likely looking at a return to the $5-$6 level by Mid Summer. If not, then it could be range bound for a couple of months. All technicals have turned up so it should be interesting. The MACD has now gone positive and both the RSI and W%R bottomed and turned north last week (which indicates a strong buy point). Looking at the 8 month chart you have a cup and handle that's about to be finished, thus indicating yet another strong push higher.
Technically GLUU looks poised to move higher. No doubt accumulation has been taking place over the past several months. One would have to ponder.......who's doing the accumulation? Follow me here. If bought out, GLUU would no doubt bring anywhere from $5 to $8 per share if done in the near term. With each passing month that price will increase as the new SG 2.0 model matures and comes online. Imo what you are seeing are the shares being snatched up down here under $3 and $4 and simply being tucked away. Once a buyout is announced the new owner will actually be picking up GLUU for much less than the buyout price (anywhere from $5-$10 ps) since they picked up a large % of the float at the currently levels.
Things are about to get interesting. Patience will be very well rewarded in the not to distant future:)!!
At the current pps level, adding more shares is a no brainer:)!!
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........for anything over $10 Bucks!! :)
Ignore the noise in after hours nickel & diming the shares. Listened to the whole confr call and these guys running the GLUU show are top notch. I've traded GLUU for two years until last July when I sold out of my entire position in the mid 5's. Started building a new position in the mid $2's because, well, that was a no brainer. Any buyers at the present level will be very well rewarded over the next few months. Left on their own the pps should steadily climb the rest of the year, however, imo this little gem will be snatched up by the middle of this year or in Q3 or 4 of this year. All the numbers suggest a buyout in the $8-$10 level but it will get there on it's on either way. An up and comer with a top notch management team all in place and no debt? Back the truck up:)! Make no mistake though because the weak holders will get shaken out of their positions by 'The Club' over the next several days. If you don't know who 'The Club' is then you probably shouldn't be trading stocks in the first place. If you have stops set just under the current levels 'they' know and can see where they are. You'll go get a cup of coffee and come back and presto.....your shares will have changed hands. I for one won't even think about turning any of my current position loose until it gets above $6. There has been heavy accumlation taking place for the past several weeks. Hmmmm.......wonder why:). Things are about to get interesting. FWIW
Once 'they're' done it will be off to the races. 'They're' working this thing like a well oiled swiss watch! If you want in and you're waiting you might very well miss the initial pop into and around the mid 4's. 'They' probably do a couple of head fakes in that area for a day or so prior to running it on up to the $6-$7 area. With the low float this thing will move fast once it gets going. When it starts buckle up cuz 'they'll' make it go balistic once it starts to happen.
And, if you don't know who the "Club", "They're" and "They" are, well, maybe you shouldn't be in the market. Their goal is to.....well, never mind.
This party is about to get interesting............
Watch and learn people. You don EVER short a low floater like this on a huge up day. This will settle down but not until the middle or end of next week. Before then you're likely to see this think charge up to $7 or $8 bucks per shr. Like a said, watch and learn. Those that shorted this thing already today will be running like crazy between 3:00 and 4:00 this afternoon when there are no shares left to cover. A low floater like this can double or triple inside of 3-5 trading days. Things are about to get interesting - wink-wink!!
All you have to do is look at a 3, 6, 9 or 12 month chart, track both the MACD and RSI and see that this thing is set up perfectly for a run back towards $5. I traded this thing last year and did very well. Haven't touched it this year until mid-day yesterday. Patience my friend.....Patience. Nuff said.
Yeah, they managed to take it down to touch the 50 day MA prior to running it back up. May happen again but I think you can see from yesterday's price action there are plenty of buyers willing to step in between the 4 - 4.30ish area. The old adage 'buy when they're selling' certianly rang true yesterday. You don't day trade a stock that trades like MITK. You buy on weakness and then sell it later this year closer to $10 but only then if it's way over the upper bb. Just my 2-cents and may well be worth what you paid for it:)
MITK's 6 month chart is a thing of beauty. As far as the MA's are concerned the 20 day MA is above the 50, and the 50 is above the 200 day MA. All three pointing in the right direction (that is if you're long). The MACD is positive, strong and trending higher and the RSI flipped a few days ago and is now pointing up. Why is this important? This data pop's up on the watch lists of millions of technical traders; you can figure out the rest:). The last time 'they' took it to the 50 day MA was the second week of Feb. The following week you had the 'Golden Cross' occur (perhaps the single most powerful technical indicator) with all averages moving up since then. Again, traders who only trade on technicals may not even know what the company does; they simply look at the charts and their TA. When you factor in the fundamentals for MITK, well, this is not a stock I would want to be holding short. I've got the 50 day MA at right around 4.25. Any buyers of this stock between 4 - 4.50 will be very well rewarded over the next few months. And, FWIW......... if you're currently long and you're using stops you might want to pull them. 'They' know and can see where your stops are and when you have a stock like this that normally trades on small volume 'they' can and will move the PPS to trigger your stop and take out your shares only to have the PPS move back up. If you don't know who 'they' are then perhaps you shouldn't be in the markets.
The fact that it held 3 tells me everything I need to know. Not saying it's going to 5 right now but you're going to see a re-test of 4 within 5-7 trading days imo. On the other hand, if mgt annouces some details around some of the deals they're working on then this thing rockets upward and may well bolt past 5 in a hurry. Way to risking to be holding short at this point. Just my 2-cents and may be worth what you paid for it;).
The fact that it held 16 tells me everything I need to know. Not saying it's going to 30 but you're more than likely going to see the low 20's within 5-7 trading days.
Read the charts boys and girls - they don't lie. All technicals have now reversed with the MACD now into positive territory and the RSI is screaming a major buy signal. My guess is 'they'll' try 'their' best to hold it down during the first hour this morning but like any tightly coiled spring when this thing gets going later today she's going to move fast. If you don't know who 'they'll' and 'their' are, well, then you might not want to mess with NYSE controled stocks. Patience will pay off on this one. One other note - if you use stops you might want to make your stop on END a mental one. 'They' know and can see where your stop is and will do what's necessary to move the pps to take out your shares. Usually happens just before the pps moves on up to the next level. $4.50 is the first major resistence area but if it takes that out with volume then it will most likely move to the $5.15-20ish area in 'short' order (pun intended). fwiw.
The bottom is in, the technicals have reversed. MAKO will stair step its way back to the 20ish area by the time the next ER's come out. Buy of the year right here boys and girls. Wouldn't be surprised to wake up one morning and see that either J&J or ISRG picked up MAKO down here at these prices.