Rebound From Earnings SurpriseNASDAQ:AMRS came up on my stock screener as a likely candidate for a long bounce. The 14 day RSI was below 30, and the stock was currently sitting 5% above it's 20 day low. There are other ways of identifying a bounce, but this way is just as good as any other.
I started digging into why that may be and came across a sour earnings report after a positive spike in volatility from a news story from Feb 5 2019. The earnings report was a huge surprise negative (again*), and it looks like we can ride the wave of the rebound to 2.40 or 3.00, depending on your risk targets.
NASDAQ:AMRS previously was trading sideways until Novemeber of last year when a surprise negative earnings report came out. Since then, the MACD has been diverging upwards until that last earnings upset. This stock has a history of 5-10 day bull runs following a bounce. Watch for the ceiling mid to late next week.
ALong
