GAMB trading below 50 day SMA
The small cap gambling operator from the UK recently dropped with 15% and is now trading at $10 a share. The price is now below its 50 day SMA, before reaching its yearly high at $11.40 just a few weeks ago. Since the beginning of the year, the shares rose with almost 40%, so this slide can be proft taking from early buyers.
Since December 2022, GAMB is in an up trend. The 50 day SMA broke above the 200 day SMA, formed a Golden Cross pattern, and remained above since then. Later on, in February 2023, the 20 day SMA broke above the 50 day SMA, which confirmed once again that bulls are in control.
Since December 2022, GAMB is in an up trend. The 50 day SMA broke above the 200 day SMA, formed a Golden Cross pattern, and remained above since then. Later on, in February 2023, the 20 day SMA broke above the 50 day SMA, which confirmed once again that bulls are in control.
The financials of the firm are looking rather mixed. Sitting at a small market cap of $374M, GAMB’s sales are $83.6M, Income is $4.5M, which is around 5.4% Net profit. P/E is strikingly, dramatically high, sitting at almost 87! To see our anticipated next price moves, please visit out Go Premium Section.
Since May, the shares jumped with $14. This indicates a very big demand from buyers. The stock is in an uptrend the bullish momentum is confirmed by the 20 day SMA sitting above the 50 day SMA, which is above the 200 day SMA. In early June, we noticed a very strong buying signal, Golden Cross. The market is however hot and overbought.
The fundamentals look attractive. Being a small cap stock, with a market cap of $1.35M, DAC’s sales are $1B and income is $373M. This comes to a net profit margin of 37%, or almost $4 profit per every $10 in sales! To see our anticipated price swings and potential entries, please visit our Go premium section.
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