The previous bearish topping pattern produced a decline from top to low of only around 8%. This stock does not want to drop! Now you can see a clear pattern emerging of strong resistance at the 4.80-4.85 area and several weeks of churning back and forth of higher lows resulting in a bullish ascending triangle pattern. The last time this occurred was after the drop from around $4 in late July with a bottom either end of that month or early Aug at $3.25 and the breakout from that ascending triangle resulted in a rise of about 80 cents above the $4 resistance line or roughly measuring the height of the triangle (i.e. $4 - $3.25). At the time financials indicated about $1.85 cps or 2.6x.
Currently the low measured from mid-Sept was around $4.20 and the upside target if it breaks out on strong volume above $4.85 would be in the $5.50-5.75 range. I am guesstimating about $80M gets added to the treasury from the good Q3 results so that is about $2.25 cps and 2.6x that amount is $5.85. So both TA and fundamentals appear to be lining up again and downside is limited significantly by the company's huge cash reserves. The 3-month uptrend line has support at $4.60 and a stop around this level would be a safe bet if you are trading this triangle pattern. GLTA.