GitLab Inc.

Company Overview:  GitLab Inc. (NASDAQ: GTLB) operates a DevOps platform that offers a single application, which brings together development, operations, information technology, security and business team,s. The DevOps Platform is built on a single codebase, unified data model, and user interface.

As per our previous “American Tech Report” published on GTLB on 22nd November 2022, Kalkine provided a ‘Buy’ stance on the stock at USD 38.22 based on ‘robust top-line performance, up trending revenues, the key risks associated with businesses and upside indicated based on Valuation done, and the stock price has now moved by ~17.09% since then and the price has crossed the Resistance 1 levels and heading towards to Resistance 2 levels.

Noted below are the details of support and resistance levels provided in our previous report:

GTLB’s Daily Chart

GTLB. Data Source: REFINITIV, Analysis by Kalkine Group

Considering the resistance, volatility in the market, current trading levels, risks associated, and volatile market conditions on the back of rising interest rates, a ‘Sell’ rating is assigned to the “GTLB” at the current market price of USD 44.75 as of 06 December 2022 at 06:30 AM PST. 

Note: This report may be updated with details around fundamental and technical analysis, price/ chart in due course, as appropriate 

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance level is 06^th December 2022. The reference data in this report has been partly sourced from REFINITIV.

Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings. An 'Exit' from the stock can be considered if the Target Price mentioned as per the Valuation and or the technical levels provided has been achieved and is subject to the factors discussed above.

Note 4: Target Price refers to a price level that the stock is expected to reach as per the relative valuation method and or technical analysis taking into consideration both short-term and long-term scenarios.

Note 5: ‘Kalkine reports are prepared based on the stock prices captured either from the New York Stock Exchange (NYSE), NASDAQ Capital Markets (NASDAQ), and or REFINITIV. Typically, all sources (NYSE, NASDAQ, or REFINITIV) may reflect stock prices with a delay which could be a lag of 15-20 minutes. There can be no assurance that future results or events will be consistent with the information provided in the report. The information is subject to change without any prior notice.’