Many securities are pulling back today including SPLK .
It is often important to wait for EL level to clear the resistance of the left side of the cup. Sometimes price does not make it to EL.
Earnings 3-1 AMC and analysts seem to be positive on the numbers to beat. Guidance can pull a security down in spite of a earnings beat. Earnings far enough away to cause more selling as earnings date can make folks nervous.
It is common for stocks to pull back when earning's date is close.
MC /mid cup 90.92. Handle low is 101.
Depth is 51.84 and this is used to calculate targets.
No recommendation.
Short interest is around 4.4 %/possible stop well below the handle low or below MC .
Price is just below the .618 of the trend up since the Covid low.
PLENTY OF POCKET PIVOTS NOTED.
It is often important to wait for EL level to clear the resistance of the left side of the cup. Sometimes price does not make it to EL.
Earnings 3-1 AMC and analysts seem to be positive on the numbers to beat. Guidance can pull a security down in spite of a earnings beat. Earnings far enough away to cause more selling as earnings date can make folks nervous.
It is common for stocks to pull back when earning's date is close.
MC /mid cup 90.92. Handle low is 101.
Depth is 51.84 and this is used to calculate targets.
No recommendation.
Short interest is around 4.4 %/possible stop well below the handle low or below MC .
Price is just below the .618 of the trend up since the Covid low.
PLENTY OF POCKET PIVOTS NOTED.