GPS jumped on mediocre earnings

29 May 2023

GAp, Inc had a little pop after mediocre earnings to break its downtrend. IT put in an engulfing

bull candle to strike three smaller red candles. This could be considered a bullish sign.

However, the trend down has been much of the year with two head and shoulders along the way.

There has been no significant net accumulation of stock. I suppose there was a volume spike

of buyers thinking they were seeing the bottom. I do not think that the bottom is in until

there is seller exhaustion. Price is below the POC line of the volume profile. I will not be

convinced of a bottom until some net accumulation begins. I see the earnings pop as giving

a better entry for a short and call it a pullback correction of the trend down and a great

point to take a short trade.

31 May 2023

İşlem aktif

GPS sideways for the time being with little directional strength.

31 May 2023

İşlem aktif

Call option +15% still sideways.