GSX has had a run that has seemingly defied logic to some bearish investors, but the overall move it made after clearing the previous ATH was relatively healthy. Despite a massive bear campaign a few months back the stock has churned to massive new highs. However, all good (or bad if you're a bear) things come to an end. It is now due for a correction, and will likely find a topping point around the 71.21 level. This leaves the ideal opportunity for shorting.
Impulse price point (top): $70-$71.21
Overall corrective target: $49.14
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Alternate high for GSX isright below the $80 price point - 79.50 region, if this breaks, shorting this stock is just a dream.
The behavior of this stock is not logical at all... I can't believe it is as high as it is.
ericisom887
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@zacmartin1265, I'm in that same boat with you. Will be interesting to see if there's a pullback tomorrow or not.
iceyeo
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Hi I am a new bie. Will this stock continue to go down. When do you think is the right time to enter?
davidops530
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Not only did it not breakdown, but has formed a wonderful Bull Flag since July 10th with Breakout developing. This stock is heading to 105 - 110 by late August.