Over the last 4 quarters AVID has beat EPS estimates every single time. AVID shares have added about 130%+ since the beginning of this year and quarterly revenue was up by 20 million more than estimated. The main reason for the recent sell off was the slowing of subscription based plans that were up massively in the first quarter of this year. This was expected,...
Today was the first time in a long time (probably 2 months ago), as reported by @Fredbenz0 , that AVID caught some unusual action on the 35c expiring August 20th. Even though it seems like the OI flipped on these 200 sized blocks, the bullish action is not far away from what this long set-up is about to give us. It seems that a period of consolidation will follow...
AVID continued it's trend higher today putting in a higher high in the last 52 weeks, fast approaching an important level put in years ago. The 1.618 fib level matches that level of resistance and should slow down once it reached that target, allowing indicators to cool off. The second important level above is 48. I would like to see those lower 30s hold in order...
