$CROX Holding trendline support today - $100k earnings bet in March 28.00 calls just traded.
Earnings tomorrow pre-market
Near term target - $32.00-$34.00 range by mid-March
Note: Informational analysis, not investment advice.
Crocs has been a nicely trending, bullish stock for many months. Having just completed a nice fibonacci retracement with Stochastic crossing up through 20, this is an interesting pick for some continued upside potential.
Beware of earnings approaching November 7th.
Option value should increase going into that volatile event.
It is easy to write about a long after it gains over 8% in one day, but this CROX breakout was more predictable than most realize. CROX first caught my eye when it bounced nicely off support at the long term uptrend line earlier in the month. I patiently waited for the MACD to begin curling upwards and RSI to be pointing up around the 40 level before I bought ATM...