After breaking-out a week ago on Large volume, shares of THE RUBICON PROJECT - NYSE:RUBI find themselves consolidating in a constructive and orderly manner as is evidenced on the Daily chart above.
With the stock trading above all of its important moving averages 20/50/200 DMA's, RUBI remains in fine technical shape, while the stock digests its recent thrust into...
Long Term expecting this to revisit 20$+
Short term -- The Harvest is here, take profit.
Was slightly surprised to see it push into $10 - I had thought we would see a more immediate sell off in the $9.xx then we have.
Resistance "A" acted a bit tougher to break through then I had expected, & I feel that we are likely to see similar struggles around...
Rubicon Project’s top line is expected to benefit from momentum in mobile and video revenues. While mobile revenues jumped 63% year over year and accounted for 53% of total revenues in the first quarter, video revenues almost doubled.
The strong demand for video advertising inventory, owing to higher engagement and ROIs, is a major growth driver for Rubicon...
I believe we are in store for a bullish earnings - Good amount of cash on hand + possibly hit slight profitability -
June 28 volume was impressive & feels to me like a sign of insiders expecting strong earnings.
With this in mind, I feel it creates the case to see post earnings price action $8.54-8.77 -- with a real possibility of testing into $9-9.27
RUBI moved into overbought (MFI indicator) territory after a cup and handle formation. Will set a tight stop at the peak of the gravestone doji and look to sell before earnings. If this eventuates, it could form a larger cup and handle formation, something to keep an eye on after earnings is released.