There was a dearth of tech IPOs in 2015 but some stood out better than others. GDDY is one of the superior new issues trading just 4% off recent all time highs. Medical names were some of the best performers of IPOs in 2015 with names like AAAP MYOK CTMX ACRS and PEN have all acted robustly, although they all trade on the illiquid side. Others like ETSY which enjoyed a huge opening day is now lower by 75% off recent highs. BOX a software name has declined 42% from highs made in January. Below is the chart examination exactly how is was portrayed in our Tuesday 11/10 Game Plan and further below we take a current view on the stock.
GDDY is a recent IPO hailing from the top performing internet group and has advanced 19% since coming public in the beginning of April. A small sample of earnings reactions shows gains of 18.2 and 4.2% on 11/5 and 5/12 and a loss of 11% on 8/6. The stock has finished in or at the upper half of its weekly range 10 of the last 11 weeks with the lone down week ending 10/20 down 2.4% in light volume. Last Friday GDDY recorded a bullish harami which was not that difficult giving the prior sessions massive gain, but the stock took out a double bottom trigger of 29.94 and obviously the round 30 number too. It found bids at the 30 figure too on Friday and lets look to enter on a pullback into the candle at 30.50.