Have a solid Doji pattern forming on the hourly chart for NYSE:LB
Open interest was at a high for the options side of things. May be a nice run up.
Also ignore the poorly drawn trend lines as im still learning!
Company guided down yet once again but there is +ve divergence in the long term chart. Shark did x3500 risk reversals into the earnings print and sold 30 puts and bought 34 calls for $0.25 for Aug24 this week expiry. Couple horizontal areas come into play in the low 30s and high 20s...
I am thinking an opening washout to sub $30 and then accumulation possibly....
After the August / 2017 report the shares rose 78.98% until December 2017 at the high of 63.26, after that period it plummeted 53.12% 33.47 pip.
In the past report rose 10: 90% on 05/24/2018 forecast for tomorrow 15.87% 5.17 pip 08/23/2018 and the second half equal to 2017.
LB BUY WEEKLY 15.87% TP 37.74 SL 29.87
The company as an established record of beating earnings estimates--the average surprise for the past two quarters was 8%.
However, the overall retail environment is not very favorable. Retail and department store sales have taken a hit as e-commerce expanded, providing tough competition.
L Brands' revenue per store has declined in the past two years, and the...