One name I’m watching right now, GDP, is in pretty good technical shape here and looks like it may be gearing up for a move soon. It’s nowhere near short-term extended like so many other stocks at the moment, and in fact is knocking on the door of a breakout from a multi-month trading range.
With GDP threatening resistance right here, it’s on my radar for a play.
I’m looking to buy this one if it’s able to break out through the $14.10 level, and would expect a quick push up to the $15.20 area. That level has proven to be both support and resistance in the past, which makes it a logical spot for a rest if the next move carries that far.
Here’s a closer look at the chart of GDP for you:
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