Q2 STOCKS TO BUY

Stick With GLUU Stock, Says Signal

GLUU's pullback could be a buying opportunity

Digital Content Manager
Feb 27, 2019 at 12:39 PM
facebook X logo linkedin


Glu Mobile Inc. (NASDAQ:GLUU) stock hit an 11-year high of $10.40 on Feb. 4, just before the company reported disappointing earnings. The equity subsequently dropped on the news, but has found an area of support atop the $8.50 level, and still boasts in impressive year-over-year gain of 129%. What's more, the mobile game maker just flashed a bullish signal that, if past is precedent, could mean GLUU is on the cusp of its next rally. 

Specifically, GLUU just came within one standard deviation of its 80-day moving average, after an extended period above the trendline. According to data from Senior Quantitative Analyst Rocky White, this signal has flashed six times before. After these signals, the security averaged a 14.5% gain one month later, and was higher 83% of the time. From where it currently stands at $8.65, a move of similar magnitude would place the stock just below the $10 area. 

GLUU Chart Feb 27

In the wake of GLUU's long-term rally, short sellers have been hitting the exits, with short interest down 37.2% in the past reporting period. An extended short squeeze could help propel the shares even higher.

That being said, now might be an attractive time to bet on Glu Mobile's next leg up with options. The equity's Schaeffer's Volatility Index (SVI) of 51% stands higher than only 25% of all other reading from the past year, meaning near-term options are relatively cheap at the moment. 

 
 

“Buy This Stock Now!” - Expert Who Called 11x On TSLA

He called a rare 11x on Tesla…

But now, thanks to Elon & Trump’s new alliance…

He says there’s a new opportunity that could be 1,000x BIGGER than Tesla – and it could completely revolutionize a $23 Trillion market.

It’s trading for less than $5 per share right now…

But it won’t be under the radar for long.

Discover The 1,000x Bigger Elon Opportunity Here

GRAND SLAM COUNTDOWN

 
 

Featured Articles from Trusted Partners:

👀Learn How Dividends Create Passive Income for Life
Receive $200 Off Motley Fool Epic. The Motley Fool Epic $299 discounted offer is based on $499/year list price. Introductory promotion for new members only. Take control of your money and your portfolio with Motley Fool Epic.

💵New Income System Could Pay You $4,243 Monthly
You could collect an average of $4,243 per month starting as early as next week with a new payout system for income investors. New registrations are being accepted for investors who want to be in a position to start with their first payout next week.

🚀Easy 92% Crypto Dividends (No Coins Required)
COIN stock doesn't pay a dividend... But there's actually a new way to collect a massive dividend that's indirectly based on the stock and offers a terrific monthly income (currently yielding nearly 92% on a forward basis).

🤝Free Advisor Match with Wiseradvisor.com
Don't leave your retirement to chance! Get matched with a trusted financial expert for FREE and make the most of your tax refund. Get started now.

⚠️Dennis Quaid's #1 Warning for Americans
Here's the thing: life doesn't come with guarantees. The economy shifts, markets stumble, and years of hard work could slip through your fingers like sand. But it doesn't have to be that way for you. So request a free copy of this Gold & Silver Guide that will arrive right to your doorstep when you act now.

 

 
 

Follow us on X, Follow us on Twitter