The price has required some consolidation since coming onto the market in mid 2018, we have recently seen lower average volumes and the price staying above its 50 day MA, if it can break above the current however the is above my comfort zone so this indicates some caution is needed. I expect trend traders would want to see a breakout and a retest before taking a long position here. The price is acting like there are not many sellers out there, I'm suggesting the strong possibility of a breakout of the right angled triangle. The fundamentals which I give over 50% weighting to look good. Strong investor/partners like Big Reliance and Swedbank, strong sales growth, cash>debt. As hybrid investor/trader I will be scaling in for the investment thesis and increasing my position if the is broken to the upside. A incremental stop will be needed on this type of trade, 10% below each buy price is a likely comfort level.
Watch out for the big new title GRID which comes out on the 8th October, this will be included in the list of titles available on Google Stadia among the other major platforms. If sales meet expectations then this will further drive growth, the board also expects to see an increase in bottom line growth with the already released titles including Dirt Rally doing well.
This is my first article, please let me know your feedback.