Gogo Inc (
GOGO
) is approaching resistance in its channel near $20-$21. It may be a good short opportunity at this level. However... waiting for it to dip and hold below the 10 EMA (pink line) may be a better short entry. The worry here is a squeeze with an 80M float and 37% short interest if the market continues its upward trend (or there is a melt-up). But if it doesn't break through resistance, it may dip to $17 or below in the weeks ahead.
GOGO
) is approaching resistance in its channel near $20-$21. It may be a good short opportunity at this level. However... waiting for it to dip and hold below the 10 EMA (pink line) may be a better short entry. The worry here is a squeeze with an 80M float and 37% short interest if the market continues its upward trend (or there is a melt-up). But if it doesn't break through resistance, it may dip to $17 or below in the weeks ahead.