LONG TERM ICHIMOKU ANANLYSIS FOR GLUU MOBILE 2/22/2013

Our small cap play for this week will center on Gluu Mobile which trades as GLUU on the Nasdaq. First lets look at some fundamental developments on the company. Recently the company has received some significant share buying by institutions. Venture Capitalist Firm GGV Capital has disclosed buying of 3.2 million shares with an average price of $3 over the last few months. In addition Leading game developer Foundation 9 Entertainment has also recently purchased 600,000 shares of GLUU as a recent SEC filing states. We can speculate about a buyout here all we want. Lets take a look at the Ichimoku Daily Chart. We have been consolidating in between $2 at the low and $2.70 at the high since November. If you notice in March the Kumo becomes very thin. Setting us up for a potential Kumo break to the upside. Additionally if you look at the history of the company it tends to begin uptrending towards the end of March. I would be looking to get long here and adding on a Kumo break out with a stop on a break and hold below $2.

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About the Author David Terk