isosphere

COHR Over-punished; buying the dip

Long
isosphere Updated   
NASDAQ:COHR   None
Pretty basic approach here, less clear than my usual bullish/bearish wedge patterns.

COHR is a profitable company with a good track record. Missed earnings last quarter, got punished hard. Coincided around the same time the overall market was in a downturn. Price dipped more than two standard deviations below the 100 day moving average. I don't think the bearishness is justified, so I caught the knife.

There appears to be some consolidation happening at the current price level. There's potential for a reversal of this drop, but I don't see any indication either way. I trust that the company is a good one, and hope that the market will reflect that in the future.
Trade active:
There's a bearish wedge in the short term chart; might be a buying opportunity coming up.
Trade active:
Oops, pretty sure that's an ascending triangle continuation pattern. Lost out on 1% trying to catch another knife, long again.
Trade active:
Dipping hard on lowish volume following news of selling from investment firms. Not out yet, watching the price action.
Trade closed manually

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.