This is an interesting chart because on one hand everything is bullish about it – a picture of perfection from a trend and momentum perspective.

  • base on base
  • previous earnings winner
  • nice price/volume, although not shown on chart
  • consolidating at/near highs
And on the other hand the are releasing earnings after the bell tomorrow and that could change everything. Keep this on your radar as a quick drop to $95 is where I would like to add a position but I’m not sure if I have the guts to buy pre-earnings. And after they release it could take off like a rock. I just wanted to point this one out as I like how the chart is behaving and if earnings weren’t tomorrow I’l be looking to initiate a position on further weakness.

One Response to “EW – Strong Chart, Earnings Tomorrow”

  1. J.Dostigan Says:

    After UPS today and BIDU yestarday, earnings risk is too much risk. I like the chart a lot, but it feels like based on chart that the trade is in earnings and then consolidation till the next earnings.

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