by Shane Ormond
On Feb 20, 2020
Shares of Groupon and Blue Apron tanked yesterday after their quarterly reports reignited skepticism about the companies’ “unconventional” business models. (And by “unconventional” I mean “doesn’t work.”)
Blue apron, groupon, e-trade, morgan Stanley
Blue apron, groupon
Yesterday, we looked at a Daily Price Chart and an On Balance Volume Chart for Arch Capt. Grp. Ltd., noting that the stock has been in a price uptrend.
Today’s Chart of the Day is a Daily Price Chart for Global Payments, Inc. (NYSE: GPN).
Global Payments Inc. provides payment technology and software solutions for card, electronic, check, and digital-based payments. The company operates in three segments: North America, Europe, and Asia-Pacific.
Now, below is a Daily Price Chart for Global Payments, Inc.
Back in February 2019, the GPN 1-Month moving-average crossed above the 10-Month simple moving-average (SMA) indicating GPN is on a PowerTrend ‘buy’ signal (circled).
Guess what happened next…
Prices rose steadily for the next year.
If you had purchased GPN shares when the PowerTrend ‘buy’ signal occurred for the stock back in February 2019, when the stock was around $130.38, you’d be up 54.7% by now.
Not a bad profit for a less-than-a-year-and-a-half hold of a major retailer.
Now, as you can see, the 1-Month moving-average is still above the 10-month SMA. That means the bullish trend is still in play!
As long as the 1-Month price remains above the 10-month SMA, the stock is more likely to keep trading at new highs in the coming days and weeks.
We’ll be keeping our eye on this stock as it continues to trend upward so we’ll know the moment the market conditions shift and the stock begins to come back down.
Maximizing Our Profit Potential
Additionally, we’d like to talk about how a previous Chart of the Day stock has done…
On February 3rd, we highlighted Apple, Inc. (NYSE: AAPL), noting that AAPL stock had been making a series of 52-Week Highs since mid-October.
If you happened to have purchased AAPL shares on that day, you’d already be up 5.33%.
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Editor, Chart Of The Day