Gogo Inc (Ticker: GOGO: NASDAQ), is a relatively new stock on my radar and appeals to me due to the Descending Wedge that I’m seeing across price action. The company is a provider of in-flight broadband Internet service and other connectivity services for commercial and business aircraft and more information can be found at their website through this link.

The Descending Wedge is classified as a bullish-reversal technical pattern and is one of my preferred patterns to monitor. I have a separate article about this pattern on my site that can be found through this link and more examples of these breakouts that can be found through this link. GOGO is simply another stock that I am now stalking for any wedge breakout.

GOGO weekly: Price action has been printing lower Highs and lower Lows since 2014 but I’m on the lookout for any basing activity and a break in the print of lower Lows. The 50% retracement of this swing Low move is near previous S/R at $20 and the 61.8% retracement is near alternative S/R at $25 so both would make obvious targets for any bullish breakout move. Traders should watch for any descending wedge breakout.

GOGO weekly Cloud: watch for any new bullish move above the weekly Cloud that evolves with a spike in volume.

Disclaimer: I do not hold any current position in GOGO. Do you own due diligence.