Aug 22, 2017.close
XGTI, al though it wasn’t able to get to our $3.08 target from our strongly consider buying cross trend at $2.12 on July 18, 2017 it did go as high as 2.65 less then 4 days later on July 24, 2017 and has also managed hold key support of 1.55 in its yearly 10/1 reverse split range of 10.10-1.17 (1/10) as it went as low as it has gone as low as 1.70 today on less then 2/3 average volume in an up market after it fell from 2.65 high on stellar 2017 QE2 EPS.
often times issues like XGTI make pre earnings runs as severally oversold XGTI did starting at 1.55 ahead of its earnings release and then after earnings rocket on panic buyers coming in overnight as well as short covering that causes an issue like XGTI to gap up the following post earnings trading day as XGTI did from 1.55 to 1.71 before it then exploded to its current 2.65 monthly high 4 day later at 2.65 where those buyers from 1.55-2.01 sold out for a solid 25%+ short term gain.
However, what is so Bullish now is nothing has changed for XGTI since its EPS release earlier this month. in fact what’s even more bullish is the issue has since hitting 2.65 aa it fell back to today’s 1.70 low did it on less then 30% of the total volume that sent it post EPS from 1.55 to 2.65!!! If the story can’t get any more bullish at this point it does! Because, in the process the issue has not only held its uptrend but it’s nearly filled its 1.56-1.69 open gap! Most likely it will do that tomorrow and when it does at 1.69-1.75 tomorrow it should again see shorts cover and long term buyers comes in and begin a run that should get it back to at the very least its current 2.65 monthly high a level from today’s close of 1.74 of more then 50% over today’s close!
Buy Area 1.69-1.74