Cloud Internet Platform Forms High Tight Bull Flag
Go Daddy (GDDY) shares closed with an inside day candle Wednesday which sets up the potential breakout above the recent high tight bull flag pattern that’s been coiling near the top of monthly value at 140. A close above 141 likely moves quickly to the 143 prior high with a fib extension target up at 145 and then 147.50 the next extension level. GDDY has stayed strong since its earnings rally in early May and the recent addition to the S&P 500 index which took place this week. GDDY saw buyers this week for near 2000 August $150 calls at $3.10 which look to be positioning for a breakout.