$GTAT new technical support
After the post-earnings bounce early in the week, 
GTAT broke through and held a key resistance/support level for the second straight today. 15.25 has been a really significant technical level since March and has acted as a ceiling for any upward move since the breakdown from 20. It also coincides nearly to the penny with the .618 retrace from the big run-up to 20. I was personally hoping for a more emphatic break above this line after earnings, but I still think closing above it for the week, in any fashion, now makes for an obvious floor going forward (a look at the 5-minute chart from today--Friday--shows 3 different bounces off this level).
No clue where this goes next, but I think 15.25 makes a clean, well-established base for now.
GTAT broke through and held a key resistance/support level for the second straight today. 15.25 has been a really significant technical level since March and has acted as a ceiling for any upward move since the breakdown from 20. It also coincides nearly to the penny with the .618 retrace from the big run-up to 20. I was personally hoping for a more emphatic break above this line after earnings, but I still think closing above it for the week, in any fashion, now makes for an obvious floor going forward (a look at the 5-minute chart from today--Friday--shows 3 different bounces off this level).No clue where this goes next, but I think 15.25 makes a clean, well-established base for now.
Feragatname
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