The PEAD projected a neutral outlook for $GRWE after a Negative under reaction following its earning release placing the stock in Drift D
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GWRE Guidewire software.
YTD 12.73% Target price of $124
Rsi showing stock has been overbought. Sat at a resistance level.
Last two earnings release price increased up to the day where it was then sold off.
Looks like this is happening again.
Significant swing in momentum.
200 & 50 ma's broken on good volume
MOM indicator just crossed zeroline.
Targets 100ma and downtrend.
Its possible a very large bull-flag formed
Top of the channel at 103 and with upcoming ER, if we clear, we should see a decent run up. Most probably it will retrace to the bottom of the channel. Either way worth keeping an eye on it
GWRE is a possible earnings play. It has good insider selling.
on the technical side it seems a double top as well as a H&S formation.
We think it has good downside potential with the earnings.
* Trade Criteria *
Date First Found- November 27, 2017
Pattern/Why- Possible Earnings play, Potential H&S formation
Entry Target Criteria- January $80 Puts,...
Guidewire Software, Inc. engages in the provision of technology platform, which composes of software, services, and a partner ecosystem, for the global Property and Casualty insurance industry. Its products include InsuranceSuite, PolicyCenter, ClaimCenter, BillingCenter, InsuranceNow, Analytics, Ecosystem, Guidewire for salesforce, and Guidewire Cloud. The company was founded by Marcus S. Ryu on September 20, 2001 and is headquartered in San Mateo, CA.
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