This stock spiked 28 percent today because of an earnings beat (it's beat was by 67 percent). it opened around 21 and closed around 24. Obviously, it's overvalued. but with it's heavy buying volume, it could easily spike higher tomorrow (based on past price history, after positive earnings, the stock seems to rise a little the next day plus this earnings day had more volume than usual for this stock on earnings dates). Therefore, I'm thinking about going long after seeing what it does tomorrow morning at the open. Remember, look at what the stock's doing at the open before jumping in. For all we know, it could fly high or fall hard. Follow for idea alerts and comment on where you think the stock is heading. Thanks and happy trading!
Comment:
luckily i didn't get in at market open because i saw where the stock was heading. should've shorted. oh well...