Analyzing the options chain and the chart patterns of GWRE Guidewire Software prior to the earnings report this week,
I would consider purchasing the 75usd strike price Puts with
an expiration date of 2023-10-20,
for a premium of approximately $0.82.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
Looking...
NYSE:GWRE - head and shoulders reversed was formed and we can take a bit profit in 2 months 82->95 (approx 16%)
Does not constitute a recommendation.
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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,...
