$GDDY A bigger picture on what is going on with this stock

3 Agu 2019

I have been following this stock since it's just started to form the bearish rising channel. Eventually, classic inverted cup and handle formed and what was missing just a breakdown on bigger volume. Well, today we got it. I do not chase such sharp moves but decided to enter on 50% retracement. There is a chance that it may go up a bit more giving me the perfect opportunity to add to my position. But make no mistake, there is a very little chance that this stock will be here for a long time. It will slide and crash much lower. There might be an attempt to close the gap, to wipe out early shorts but the trend now is DOWN. From this point, we may see a long term drop. GDDY has a lot of internal problem and investors are freaking out, today action speaks for itself.