From a Technical Perspective I believe good fundamentals set up an uptrend, which we then can use technical to trade or get some idea of up's & downs. First off, the plan they put in place last year set us up for good & improving fundamentals now. So let's look at some of these technicals.
1. Golden Cross - the 50 day MA crossed over the 200 day MA (bullish) - crossed around August 27 or so.
2. Rising on Huge volume & falling on low volume
3. Consolidation period: the 50 day MA, which I use a logical consolidation metric as it shows how for the last 50 days the average price is drifting higher (market is digesting higher prices). Since September started the 50 day MA has jumped $0.34 cents to now at $3.09. I think we could be at $3.40 ish range by the end of the month.
4. Closing the gap between the stock price & 50 day MA, will set this thing up for a bounce (or kiss) off the $3.50 range & propel to much higher levels. Maybe Jason's $7 target? Makes sense since this company's trailing adjusted EPS is 78 cents.
I think given the fundamentals, the 4X EV/EBITDA (probably should be at 7X), the 4.7X PE ratio (on adjusted EPS), and from how the chart is lining up. Should be go time sooner than later. I know I'll buy snapping up some more shares.
Comments are welcome.
GLTA