Earnings season continues this week and quite a few stocks that would have been placed on the Watchlist will be reporting this week. As the guidelines provide that we exit positions prior to earnings, it makes no sense to consider a position until after the earnings report this week. An example would be ANDE which reports tomorrow. Price action has moved steadily up bouncing between the 9 (support) and the upper Bollinger Band (resistance) for quite some time.
Regional banks have been showing price action strength over the past several weeks and after earning, we find some that are showing price action strength like OZK. Support is at the 9 (43.50) with resistance at 45.27. Both CADE and BKU have seen price action break through the 200-day SMA with positive back-tests of that level. The 200-day is now providing a level of support. Watch the resistance levels as you can expect some selling at those points.
CRWD has closed above the 9-Day SMA (152.59) where it has found support. There looks to be some selling pressure around 160.18. Earnings is 8/28.
Utilize support and resistance when deciding on potential entry and exit points and always protest your gains and minimize losses with stop limits.
Have a great day!
This information is for educational purposes and not a recommendation to buy or sell a stock.
Share this article:
More in Uncategorized:
Experience remarkable trading success with the Platinum Channel! In 2023, our Swing Trading Program showcased an outstanding performance. With a...
January 7, 2024