Long Position on GLUU @ $11.00 on 4/2/2019 (Momentum)

Glu Mobile Inc. (GLUU) develops, publishes, and markets a portfolio of free-to-play mobile games for the users of smartphones and tablet devices.

The company publishes titles primarily in four genres, including home décor, sports and action, fashion and celebrity, and time management.

It creates games based on its own brands, Blood & Glory, Contract Killer, Cooking Dash, Deer Hunter, Diner Dash, Eternity Warriors, Frontline Commando, Gun Bros, QuizUp, and Tap Sports.

The company also creates games based on third-party licensed brands, such as Kim Kardashian: Hollywood, MLB Tap Sports Baseball, and Restaurant Dash with Gordon Ramsay. It markets, sells, and distributes its games primarily through direct-to-consumer digital storefronts worldwide. 

Shares have formed a bullish "cup and handle" following the company's latest quarterly report. Glu Mobile reported 4th Quarter December 2018 earnings of $0.05 per share on revenue of $95.6 million. The consensus estimate for the revenue of $96.3 million. Higher share prices are expected for this stock.

Entry Point: $11.00

Stop Loss: $10.40

Trading Range: $3.58 - $11.46

Target Price: $12.10

Updates

5/15/2019 10:59:59 AM

GLUU closed at $8.90

Position closed on 5/15/2019 at price of $8.90 with a -19.09% loss in 43 days.

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