GDDY hit around $82, near its preious all time high, and collapsed. Although financials are seemingly strong, indicators are not. The pullback was due to the Market itself having several negative days in a row, causing buyers to have concerns, as well as the news that GDDY is laying off 10% of its employees, despite strong financials.
Currently, the stock is near a very short term double bottom, and a Triple bottom MAY be created. If this occurs, look for prices to hit an all time high, with a newly restored faith in the stock.
However, it is more likely that the stock will continue on it's current trajectory until it reaches a point of higher consolidation.
This stock will end up being a good one to have, look at the past 6 quarterly financials, high EPS, etc. Look for a good buy in, if you do not own yet. Do not short until this stock goes below current double bottom.
Currently, the stock is near a very short term double bottom, and a Triple bottom MAY be created. If this occurs, look for prices to hit an all time high, with a newly restored faith in the stock.
However, it is more likely that the stock will continue on it's current trajectory until it reaches a point of higher consolidation.
This stock will end up being a good one to have, look at the past 6 quarterly financials, high EPS, etc. Look for a good buy in, if you do not own yet. Do not short until this stock goes below current double bottom.