ALGN: Earnings on 7/25/2018 AMC. EST 1.09
Looking for an additional purchase with ALGN. First purchased 10 shares at 284, sold 7 at 365.65.
After the initial breakout from the wedge, the stock traded in a tight upward channel to its ATH. ALGN then had some healthy consolidation around the 335 mark and has gained some strong momentum before this upcoming earnings.
MACD: Daily crossing on 7/13/2018, weekly still signaling bullish, continued upward movement after earning will be vital for the chart technicals
Trendlines: Stock initially broke through ath 7/18/2018 and since then has retested resistance at ~369.70 looking like it's formed a soft support. Also following a weak support trendline highlighted in grey.
Looking for another 10%, Waiting for a better entry depending on today/tomorrow.
Looking for an additional purchase with ALGN. First purchased 10 shares at 284, sold 7 at 365.65.
After the initial breakout from the wedge, the stock traded in a tight upward channel to its ATH. ALGN then had some healthy consolidation around the 335 mark and has gained some strong momentum before this upcoming earnings.
MACD: Daily crossing on 7/13/2018, weekly still signaling bullish, continued upward movement after earning will be vital for the chart technicals
Trendlines: Stock initially broke through ath 7/18/2018 and since then has retested resistance at ~369.70 looking like it's formed a soft support. Also following a weak support trendline highlighted in grey.
Looking for another 10%, Waiting for a better entry depending on today/tomorrow.
Comment:
Averaging up here, strong hourly chart with lots of volume going into earnings. Average price is now 334.20
Comment:
Beats by 19.2%, down on weak forecasts, will be holding long-term.
Trade closed: stop reached:
Stoped out, might look for reentry later.