Quarterly Outlook
Equity outlook: The high cost of global fragmentation for US portfolios
Charu Chanana
Chief Investment Strategist
Technical Analyst, Saxo Bank Group
Gitlab is one of the stocks in our Bubble stock theme basket. It has been quite volatile lately but it trading in a fairly wide falling channel currently testing the upper falling trendline. If closing above the trendline a move to around 50-52 could be seen.
If Gitlab fails to close above the trendline bear trend is likely to continue with a test of support at around 33-30.
If dropping below 30 Gitlab is in un-charted territory and could drop to around $20.
For Gitlab to turn bullish a close above 52.40 is needed.