# Sitting on a Cash Pile 14.0? A Winning 'Meme' Play

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Last modified: 2021-06-25

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By Paul Ebeling · 2021-06-25
Tags: resistance, cash, support, Paul Ebeling, Todays Trade Ideas, Knightsbridge Insights, meme, #GTT
Signed: no (published before platform launch).
Nothing in this article is investment advice.

[#cash](https://www.livetradingnews.com/tag/cash)[#bullish](https://www.livetradingnews.com/tag/bullish)[#buy](https://www.livetradingnews.com/tag/buy)

[$GTT](https://finance.yahoo.com/quote/GTT?p=GTT&.tsrc=fin-srch)

GTT Communications Inc. ([NYSE:GTT](NYSE:GTT)) broke out on 16 June at 2.46 and confirmed on 24 June at 2.98. Thus, garnering an early speculative call with a 1 yr price target at 15.46/share

Thursday, all of our Key indicators turned, Very Bullish long term. The Key resistance is at 3.54 and the Key support is at 2.58/share

GTT is a network services provider to multinational enterprises, network carriers, and governments. The company’s modest market cap, even after Thursday’s strong surge, is just $165.6-M. 

The percentage of short sales to the stock’s total float was around 40% as of 28 May.  

Trading volume over the past 10 days averaged 6.15-M shares, a 1-M+ more than the 3-month average.

![](https://livetradingnews-media.nyc3.digitaloceanspaces.com/wp/placeholder.svg)

GTT Communications, Inc. markets its products and services through a network of direct sales force and indirect sales channels. 

The company was formerly known as Global Telecom & Technology, Inc. and changed its name to GTT Communications, Inc. in January 2014. 

GTT Communications, Inc. was founded in Y 2005 and is HQ'd in McLean, Virginia.

Have a positive weekend, Keep the Faith!

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