Disclaimer: I am already in this position from 35.68 (-5% from current price) but I plan to add more at support levels, with a profit target above $50
* Idea: Swing long CHGG from earnings miss, big gap down. * Rationale: While their earnings were not good, it wasn't that bad. They have Billions in cash on hand. Have announced a buy back. All Analyst ratings after downgrades is still well above the current price. I think this drop is over done and we are seeing price start to come back today (Nov 3rd). * Timeframe: I expect to hold this for 2 months, looking for about +40% profit on the trade
Good luck!
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Starting to accumulate there. Current avg is 34 and will add heavy around 27s
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added a bit more. Avg 32. Still plan to add if we start in the 25 to 27s range.
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Added equal size. New avg is 28.73 . This is my last add.