BLACKLINE INC

NASDAQ

BL

5/08/2019 BL LONG 56.35 54.02 2.33

Earnings this past week and surely smoked the short on gap up after earnings. Probably the biggest short squeeze of the week. I don't have a position yet, but will be stalking it around the 54.13 pivot. Up on massive volume too, probably continue higher Mon/Tue and then looking to buy the dip.

All indicators are falling meanwhile. The only MA that has not been broken yet is the MA 14 whch may follow within the next few minutes.

Bullish momentum has continued since last post. PMO continues to rise and has expanded over last two sessions. RSX has cooled off a little bit and turned upward again. I see two potential scenarios playing out here: First, the market run continues and BL, without any resistance above, keeps closing the gap on its ATH of 58.15; a positive surprise on ER would...

Rest on chart. Looking to buy pullback below 43.50 or breakout above 48.00

Re-seller deal with SAP could mean growth (see link). BL fills a gap in SAP's system and I can see a case for them being bought outright. www.blackline.com

Broke through resistance and sitting at new highs. MACD bullish crossover should push this higher.