Gartner is a global research and advisory firm that provides independent research and analysis on the information technology and other related industries. Its clients are typically business executives and chief information officers who help set IT budgets for companies. Gartner has clients in more than 15,000 companies spread across 100+ countries. The company’s brand, scale, and expertise in a niche area are the primary drivers of its long-term growth.
The long term monthly chart for Gartner shows a consistent uptrend that has had major pullbacks in 2018, 2019, and early 2020. The pullback in 2020 was by far the biggest one as prices fell by more than 50%. The price broke the bottom of the long-term trend for almost a couple of months. Starting April, the uptrend seems to have resumed as prices have risen by 70% from their March lows. The price recently crossed the bottom of the long-term trend as well as a historic support-resistance level at $127.74. The likely target now looks to be $162-$164. A stop loss below the $127 support-resistance level offers an attractive risk-reward ratio as well.
Positions take today at $132.20. With stop Loss 14.5% below at $113.27. Take profit set at $170 yielding a profit of 28.5%
On the video and images above you will see the reason this stock was selected.
You will see the image is of a monthly chart of the stock showing the long-term upwards trend formed over the years. You will also see the entry point and the where the stop loss is placed. For more information please watch the video given.
Once it is time to move the original stop loss up you will see an additional image.