GSX Techedu Stock Chart Buy Level Approaches

By Gareth Soloway of In the Money Stocks

President & Chief Market Strategist at IntheMoneyStocks • Nov 20, 2020 at 11:59 AM EST

Based on the GSX Techedu stock chart, investors should expect a downside to $46.25 in the coming days/weeks.

Shares of GSX Techedu Inc (GOTU) are falling sharply today after the company reported earnings that did not meet lofty investor expectations. The stock is down 20% on the day and 60% from its all-time highs in July 2020.

Based on the GSX Techedu stock chart, investors should expect a downside to $46.25 in the coming days/weeks. Once there, the GSX Techedu chart has major support and becomes a strong buy for a bounce. From this $46.25 support level, the GSX Techedu stock chart signals an upside swing of as much as 50%. This creates a very attractive risk/reward swing trade.

(Click on image to enlarge)

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