$GTAT new technical support
After the post-earnings bounce early in the week, 
GTAT broke through and held a key resistance/support level for the second straight today. 15.25 has been a really significant technical level since March and has acted as a ceiling for any upward move since the breakdown from 20. It also coincides nearly to the penny with the .618 retrace from the big run-up to 20. I was personally hoping for a more emphatic break above this line after earnings, but I still think closing above it for the week, in any fashion, now makes for an obvious floor going forward (a look at the 5-minute chart from today--Friday--shows 3 different bounces off this level).
No clue where this goes next, but I think 15.25 makes a clean, well-established base for now.
GTAT broke through and held a key resistance/support level for the second straight today. 15.25 has been a really significant technical level since March and has acted as a ceiling for any upward move since the breakdown from 20. It also coincides nearly to the penny with the .618 retrace from the big run-up to 20. I was personally hoping for a more emphatic break above this line after earnings, but I still think closing above it for the week, in any fashion, now makes for an obvious floor going forward (a look at the 5-minute chart from today--Friday--shows 3 different bounces off this level).No clue where this goes next, but I think 15.25 makes a clean, well-established base for now.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.