GLUU at long-term trendline support - watch for bullish breakout

Glu Mobile broke above a downward trendline thanks to support from a longer-term trendline formed over the last 12 months. That support line may also push GLUU out of its downward parallel channel, in which case the price should oscillate upward ahead of earnings in late July.

Despite strong analyst ratings, earnings expectations for GLUU are .02 per share lower than reported earnings the same quarter last year, which may push the stock price below trendline support.

Yorum:

Glu Mobile fellow below critical trendline support and is now a short play.