This is a strictly technical short term “short” on GIGM based on trend analysis. I’m looking to pull a couple basis points and buy to cover near $20/share. GIGM made a huge run from $9/share to over $25/share just a few sessions ago. They announced they will be holding there conference call next Wednesday though i doubt I’ll be holding through due to the risk involved.
As of today GIGM is breaking down from its ever strong run along the 13ema with increased volume to back up this move with momentum. I expect continued weakness giving us a chance to cover near 20.
Short GIGM 22.16
