Rebound From Earnings SurpriseNASDAQ:AMRS came up on my stock screener as a likely candidate for a long bounce. The 14 day RSI was below 30, and the stock was currently sitting 5% above it's 20 day low. There are other ways of identifying a bounce, but this way is just as good as any other.
I started digging into why that may be and came across a sour earnings report after a positive spike in volatility from a news story from Feb 5 2019. The earnings report was a huge surprise negative (again*), and it looks like we can ride the wave of the rebound to 2.40 or 3.00, depending on your risk targets.
NASDAQ:AMRS previously was trading sideways until Novemeber of last year when a surprise negative earnings report came out. Since then, the MACD has been diverging upwards until that last earnings upset. This stock has a history of 5-10 day bull runs following a bounce. Watch for the ceiling mid to late next week.
Upset
Trump's second term and the DJIPossible long term path for the DJI between now and January 2025. Save and check back in 6 years.
Red boxes are targets where we'll probably see some dead cat bounces along the way.
Orange box represents the 18-month long presidential cycle.
Green box indicates where one should "back the truck up" for a stock market reload. (Bottom of the crash... maybe anyways)
