Green Dot Corporation, together with its subsidiaries, operates as a technology-centric, pro-consumer bank holding company that provides personal banking for the masses. It offers prepaid debit card products and prepaid card reloading services in the United States, as well as mobile banking services with its GoBank mobile bank account offering. The company’s products include Green Dot MasterCard, Visa-branded prepaid debit cards, and various co-branded reloadable prepaid card programs; Visa-branded gift cards; and MoneyPak and swipe reload proprietary products, which enable cash loading and transfer services through its Green Dot Network.
Please take a look at the 1-year chart of Green Dot (NYSE: GDOT) below with my added notations:
GDOT had held an important level of support at $20 (blue) for the
last 9 months, and that level had also been a previous resistance. After
rallying back up near $22 earlier this month, the stock came back down
to $20 yet again. Yesterday GDOT finally closed below the $20 support
and should be moving overall lower from here.
The Tale of the Tape: GDOT had a key level of
support at $20. Now that the stock has broken support, a trader might
want to enter a short trade at or near the $20 level with a stop placed
above that level. A break back above $20 could negate the forecast for a
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