AnneTrader
Short

MDRX gaps down on earnings

NASDAQ:MDRX   ALLSCRIPTS HEALTHCARE SOLUTNS
MDRX has been in a messy downtrend for a few weeks so Friday's gap down, on the earnings announcements, did not come as a surprise.

As volume was also up there is a good probability that the bear move will continue. However, because the trend is not very neat and because there is support at $8.84 this is a near-term shorting opportunity only. That still gives a potential 216 point move, provide the gap doesn't get filled.
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