Pipaluk
Long

With CRUS, does history repeat?

BATS:CRUS   CIRRUS LOGIC INC
99 0 0
Cirrus Logic             is trading 12% lower today on what was apparently excellent earnings . They beat estimates by .24 or around 30%. Last earnings gap down was almost immediately bought.

Two ways to play:

First Way: When price breaks below today (10/30) low, put in a buy stop at the low price. That way if it continues to break down you don't take a position and if it recovers after running the stop you get in. At least that how it works in an ideal world. Normally I just watch the trading and manually enter the order, because it'll generally chop around the low.

Second Way: The second way is to buy on strength over today's candle. This doesn't provide as good risk/reward as your stop is below the most recent low (currently about $21), but the likelihood of success is slightly greater.

I'm not partial to either method, if price action breaks today's low and recovers in the same day, I'll get long there. If today's low doesn't get retested and instead we go for the gap fill in the next two days (as happened last time), then I'll buy on strength as in the second scenario.
Ideas Scripts Chart
United States
United Kingdom
India
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
日本
한국
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out