Unleashing the Code: GitLab (GTLB -20.09%) Faces a Downturn in the Packaged Software Industry
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In the fast-paced realm of technology and software, GitLab (GTLB) found itself facing headwinds in the market this quarter. Over the last three months, the company's stock took a dive, falling by -20.09% to reach $34.65 per share.
A.I.dvisor diligently analyzed 931 stocks within the Packaged Software Industry for the 3-month period ending May 26, 2023. The findings shed light on an intriguing landscape: 476 stocks (51.12%) exhibited an Uptrend, while 455 stocks (48.88%) demonstrated a Downtrend.
Now, let's unlock the secrets behind GitLab's downturn and explore the factors that contributed to this decline. From shifting market dynamics to industry challenges and company-specific circumstances, the coding ecosystem is complex and ever-evolving.
Technology enthusiasts and investors now find themselves questioning GitLab's ability to bounce back and regain its footing. Can they navigate through the challenges, debug their strategies, and regain momentum? Only time will provide the answers.
GTLB's RSI Oscillator peaks and leaves overbought zone
The 10-day RSI Oscillator for GTLB moved out of overbought territory on September 13, 2023. This could be a sign that the stock is shifting from an upward trend to a downward trend. Traders may want to look at selling the stock or buying put options. Tickeron's A.I.dvisor looked at 7 instances where the indicator moved out of the overbought zone. In of the 7 cases the stock moved lower in the days that followed. This puts the odds of a move down at .
Technical Analysis (Indicators)
Bearish Trend Analysis
The Momentum Indicator moved below the 0 level on September 18, 2023. You may want to consider selling the stock, shorting the stock, or exploring put options on GTLB as a result. In of 35 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are .
The Moving Average Convergence Divergence Histogram (MACD) for GTLB turned negative on September 18, 2023. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 17 similar instances when the indicator turned negative. In of the 17 cases the stock turned lower in the days that followed. This puts the odds of success at .
GTLB moved below its 50-day moving average on September 18, 2023 date and that indicates a change from an upward trend to a downward trend.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where GTLB declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
The Aroon Indicator for GTLB entered a downward trend on August 29, 2023. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
Bullish Trend Analysis
The Stochastic Oscillator shows that the ticker has stayed in the oversold zone for 4 days. The price of this ticker is presumed to bounce back soon, since the longer the ticker stays in the oversold zone, the more promptly an upward trend is expected.
The 10-day moving average for GTLB crossed bullishly above the 50-day moving average on September 08, 2023. This indicates that the trend has shifted higher and could be considered a buy signal. In of 7 past instances when the 10-day crossed above the 50-day, the stock continued to move higher over the following month. The odds of a continued upward trend are .
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where GTLB advanced for three days, in of 110 cases, the price rose further within the following month. The odds of a continued upward trend are .
GTLB may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
Fundamental Analysis (Ratings)
The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating steady price growth. GTLB’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is fair valued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (8.881) is normal, around the industry mean (21.049). P/E Ratio (0.000) is within average values for comparable stocks, (152.713). Projected Growth (PEG Ratio) (0.000) is also within normal values, averaging (2.638). Dividend Yield (0.000) settles around the average of (0.088) among similar stocks. P/S Ratio (13.532) is also within normal values, averaging (74.081).
The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating weak sales and an unprofitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to worse than average earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating that the returns do not compensate for the risks. GTLB’s unstable profits reported over time resulted in significant Drawdowns within these last five years. A stable profit reduces stock drawdown and volatility. The average Profit vs. Risk Rating rating for the industry is 90, placing this stock worse than average.
Notable companies
Industry description
Market Cap
High and low price notable news
Volume
Fundamental Analysis Ratings
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
General Information
Industry PackagedSoftware
| 1 Day | |||
|---|---|---|---|
| ETFs / NAME | Price $ | Chg $ | Chg % |
| BND | 70.47 | 0.29 | +0.41% |
| Vanguard Total Bond Market ETF | |||
| CII | 18.68 | 0.05 | +0.27% |
| Blackrock Enhanced Captial and Income Fund | |||
| XBAP | 29.01 | 0.01 | +0.05% |
| Innovator US Eq Acltd 9 Bfr ETFTM April | |||
| FCUS | 21.06 | -0.01 | -0.04% |
| Pinnacle Focused Opportunities ETF | |||
| GLO | 4.43 | -0.06 | -1.34% |
| Clough Global Opportunities Fund | |||
GTLB and
Correlation & Price change
A.I.dvisor indicates that over the last year, GTLB has been loosely correlated with NET. These tickers have moved in lockstep 63% of the time. This A.I.-generated data suggests there is some statistical probability that if GTLB jumps, then NET could also see price increases.
| Ticker / NAME | Correlation To GTLB | 1D Price Change % | ||
|---|---|---|---|---|
| GTLB | 100% | +0.33% | ||
| NET - GTLB | 63% Loosely correlated | +2.14% | ||
| BILL - GTLB | 62% Loosely correlated | N/A | ||
| SMAR - GTLB | 62% Loosely correlated | -1.25% | ||
| PD - GTLB | 61% Loosely correlated | +0.27% | ||
| BRZE - GTLB | 61% Loosely correlated | -0.13% | ||
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