Take a look at this chart of ShotSpotter .
The stock tumbled from its highs in late may, and has found support around its current levels.
Currently, it's trading with relatively low volatility in a strict range.
Today, it tested resistance around $30 and the situation currently looks bullish. This is a significant valuation level as it reflects the market pricing in the company's new customer acquisitions. Further, SSTI recently executed a share repurchase program late 2019. Please take a look at my previous posts to gain context on the stock, available for free here:
If shareholders react positively to a $30 valuation, I expect to see the price move easily to $33, where I'll look to take profits.
This is a short to medium-term trade.
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This is not an investment recommendation and the author of this post does not have a material interest in the mentioned securities at the time of its publication.
The stock tumbled from its highs in late may, and has found support around its current levels.
Currently, it's trading with relatively low volatility in a strict range.
Today, it tested resistance around $30 and the situation currently looks bullish. This is a significant valuation level as it reflects the market pricing in the company's new customer acquisitions. Further, SSTI recently executed a share repurchase program late 2019. Please take a look at my previous posts to gain context on the stock, available for free here:
This is a short to medium-term trade.
--------------------------------
This is not an investment recommendation and the author of this post does not have a material interest in the mentioned securities at the time of its publication.