Use earnings reports to your advantage.
As I discussed in previous ideas, the big money at any given time will be entering the market or getting out of the market. Never both.
When the earnings report is good, and the stock falls down => big money used it as a good advertisement to get out.
When the earnings report is bad, and the stock goes up => big money...
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TradingView has done an excellent job providing earnings information on individual stocks! If you are a new or existing stock market trader, you will find this information helpful
and I hope you learn something new.
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What happened today on the earnings announcement by PEP? Pro traders took profits against the retail crowd's buying on the news headlines that suggested an earnings "beat" for Q2. The retail buying causes the gap up at open, which is a prime cue to take profits on swing trades.
This was what we call a pre-earnings run. The earnings results don't matter as much...
If you're position or swing trading, it is a MUST to study weekly charts to confirm:
1. IF a bottom is developing
2. WHERE the bottom will complete
...to plan trades with strong reward/risk ratios.
For example, let's take a look at EGLX, which had a gap up at open on its earnings release:
1. Note that today's gap up is from a lower low in the...
AMD reports after the close today and is expected to have strong revenues over last quarter. The chart patterns suggest some Pro Traders setting up ahead of the report.
The question is how far can it rise on the retail reaction to the report? Where are the sellers? See the red lines. 124 is the strongest resistance for the short-term trend, but there are...
