Surfing GT Capital’s (GTCAP) Wave
George Ty-led GT Capital Holdings, Inc. (GTCAP) may likely extend its recent rally as it has just broken the resistance of an upslanting bullish tight flag formation. Following its rise above Php1,020.00, the stock may reach for its next immediate ceiling at its previous neckline support at the Php1,100.00 handle. The Php1,100.00 handle may prove to be a tough level to crack for the meantime given the presence of overhead supply in that zone. Remember that the Php1,100.00 level was actually a neckline support of a previous notable topping pattern in the form of a head and shoulders or kilroy. While its short run upside may just be limited to a little over 5% in the short run, it has actually already risen by 29% since Trading Edge gave it a technical buy rating last November 18, 2018. Among other stocks, we are actually surprised to see that GTCAP has been very easy to track using technical analysis. To see how we surfed the stock along its ups and downs, kindly see below.
GTCAP write-up from the Trading Edge Equity Advisor:
December 2, 2018
In our Equity Advisor issue last November 16, we noted that GT Capital Holdings, Inc. (GTCAP) would start to recover and reach for at least Php900.00 following its break from a short run basing formation. As you can see, the stock has indeed achieved the mentioned target. Since then, the stock has shown an ability to hang close to its Php900.00 resistance. This puts it in a good position to break past Php900.00. Note that a move past Php900.00 may then lift it towards its next ceiling at Php1,000.00 to Php1,010.00. Strategy: Wait for a break above Php900.00.
GTCAP write-up from the Trading Edge Equity Advisor:
November 18, 2018
GT Capital Holdings, Inc. (GTCAP) may likely add onto its recent rebound. As you can see, the stock has just broken out from a short run bullish reversal that resembles a cup and handle. Its break above its interim high at Php790.00 may then send it towards Php900.00 to Php909.00. Note, though, that a stop loss trigger must be placed just below Php790.00.
GTCAP write-up from the Trading Edge Equity Advisor:
September 16, 2018
GT Capital Holdings, Inc. (GTCAP) may likely extend its downtrend. After it broke down from a notable head and shoulders pattern, the stock has broken yet another support at its interim low of Php852.00. Its fall below the said handle may then send the stock to its next floor at the Php700.00 to Php720.00 zone.
GTCAP write-up from the Trading Edge Equity Advisor:
April 17, 2018
GT Capital Holdings, Inc. (GTCAP) may have just entered the early stages of a new bear trend. As you can see from its long run chart, the stock appears to have just broken down from a bearish reversal in the form of a head and shoulders pattern. Given its fall below its neckline support at Php1,120.00, the stock may then continue to slip until it finds some footing at its next support at Php800.00 to Php900.00. Note that it must rally above Php1,120.00 ASAP for it to invalidate the said breakdown.
GTCAP write-up from the Trading Edge Equity Advisor:
May 9, 2017
We are reiterating our technical ‘buy’ call on GT Capital Holdings, Inc. (GTCAP). In our Equity Advisor issue last April 10, we noted that GTCAP would ‘spring’ higher following its ability to nullify a prior breakdown. Since then, the stock has risen back to Php1,300.00. Moving forward, we believe that there is still some room for the stock to go up. Technically, its break above its interim resistance at Php1,275.00 may carry it to its next hurdle at Php1,381.00 to Php1,390.00.
GTCAP write-up from the Trading Edge Equity Advisor:
April 10, 2017
In our Equity Advisor issue last April 2, we noted that GT Capital Holdings, Inc. (GTCAP) was in danger of sliding given what appeared to be a breakdown from a bearish reversal formation. We also mentioned that it needed to rally above Php1,200.00 ASAP for it to effectively nullify the said breakdown. Today (April 10), the stock has managed to rally above Php1,200.00. This recent event not only invalidates its prior breakdown but it also creates a what we call a “spring” that may likely launch the stock to at least Php1,381.00 to Php1,390.00.
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