Hi all, issuing a buy on this, based on the following:
Context: As most followers know, SRV has been in "outperform like crazy" mode in the past few years. I'd be an absolute fool (or simply a risk-seeker) to try to short-sell this stock given this uptrend. And currently it is in a consolidation.
Volume spike worth over 400k last week when TOTAL bids and offers sum to less than 100k suggest something is brewing, most likely took place via an off-screen trade...if anyone happens to know more info about that day, please share!
Charts: Weekly chart forming a pennant, price broke through this pennant last month, and price has gladly been accepted in these higher levels. In doing this, it has formed a tight consolidation on the daily chart, another pennant between 7-7.25. These tend to break to the upside.
Trigger: The fact that price has attempted to go lower than 7 and has been rejected 6 times as of today suggests strong support, and add that volume spike may also suggest institutional involvement in this stock.
Depth: Not the prettiest, but very unreliable to take it for it's face value, given that the volume spike did take place without moving price as it normally would. Some hidden/institutional orders may be at use.
Shorts: There is actually short interest on this stock, somebody is shorting 5 shares of it! (Link) Is it enough for you to be running scared?
Feel free to add your fundamentals, or general thoughts, hopefully all analyses align!
GLTA
SRV Price at posting:
$7.04 Sentiment: Buy Disclosure: Held
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