One of our most profitable trades is the "The day after earnings upgrade trade". But, as with all trades, the daily chart must provide significant upside opportunity. And, the previous day close must be in the top 50% of the days range. Today RCL qualified for the trade when Bernstein and Stifel both came out with $93 price targets premarket. In the daily chart above, you will see that RCL closed in the top 50% of the trading range on the day earnings were released (premarket). And, there is no resistance on the daily chart once RCL clears the prior pivot high of $75.73. This provides very good upside potential. We entered this trade early based on the bullish price action on the 5 minute chart at $75.23. With no resistance looking left, this made RCL a great day trade, and potentially a great swing trade too.
Are you in Colorado testing out the latest strain? Unless the analyst is an illegal inside trader, take what they say as interesting, but with a grain of salt…
This totally goes against a lot of Phd research. Fading a stock after earnings has shown to be winner for many years.