GOL upgraded by JP Morgan
Tuesday, September 25, 2007
Shares of GOL are trading up in regular session, gaining more than 4% with more than 1 million shares traded at this hour, after JP Morgan Securities Upgrade stock to "Neutral" from "Underweight", citing that stock has fallen far enough to reflect the problems of the struggling Brazilian airline industry. Looking at the daily chart stock has bounced off recent lows of $ 20, breaking during this month also the downtrend line, producing immediately a rally that pushed stock till its 50 dma, causing some problems to many shorts that had to cover their positions. It seems now that GOL should break now its 50 dma and return to the level that was trading before the big sell-off. Keep GOL in your watch list.
Disclaimer : Trading stocks involves risk, this information should not be viewed as trading recommendations.The charts provided here are not meant for investment purposes and only serve as technical example.
Disclaimer : Trading stocks involves risk, this information should not be viewed as trading recommendations.The charts provided here are not meant for investment purposes and only serve as technical example.
Labels: GOL
