A_Doggo
Sep 25, 8:57 AM
$GOOD I'm rather convinced a gap is coming, I lean bullish but see possible reasons for backtests.
Short positions added 200k shares shorted from aug 31 - sept 15th. Total is near 4m shares short. Most taken out at lower prices (they are underwater positions).
The charts indicators and history shows that buyers are having trouble pushing past the
$13 level, and sellers are having a harder time knocking the price down over time.
Takeaway: A buy that pushes price reasonable amount above
$13, could see shorts covering. (They are at highest levels in the stocks history, with estimated 12.3 days to cover / 8.3% of float - source is https://www.marketbeat.com/stocks/NASDAQ/GOOD/short-interest/)
On other hand, we don't know where rate hikes end. We suspect 2-3 hikes. That's still profitable for
$GOOD, but does create going concern. The dreaded AI bubble popping is a contagion risk, and nobody can predict when that will occur.
Barring new developments, my short term PT is roughly
$14.5, with long term PT at
$20.
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