The commercial bank is making an ascending traingle, or a volatility contraction pattern. Volume is been declining throughout the formation and the price is above the 21 and 50 day MA. Also, has a IBD relative strength rating of 93. These are good technicals.
Next week reports earnings and the estimates are a $0.60 EPS, anything could happen after that report. I can't find the options activity so I don't know what the market expects. The thing is that
CBNK is been beating estimates for the last 4 quarters, has an inter annual revenue growth of +50% and a ROIC of 43%, those are good fundamentals. Is confirmed by IBD placing CBNK number 4 in its Industry Group.
I normally use a 1.50% percentage filter above the breakout zone so, I'll be placing a BUY STOP at $25.30 with a STOP LOSS at $23.22. This first buy will be with half of my position sizing. I f it works I'll buy with the other half.
Next week reports earnings and the estimates are a $0.60 EPS, anything could happen after that report. I can't find the options activity so I don't know what the market expects. The thing is that
CBNK is been beating estimates for the last 4 quarters, has an inter annual revenue growth of +50% and a ROIC of 43%, those are good fundamentals. Is confirmed by IBD placing CBNK number 4 in its Industry Group.I normally use a 1.50% percentage filter above the breakout zone so, I'll be placing a BUY STOP at $25.30 with a STOP LOSS at $23.22. This first buy will be with half of my position sizing. I f it works I'll buy with the other half.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.