Long entry breakout to the upside heading into earningsAs we approach all time highs, there seems to be much more of a runway for growth moving forward the last 4 consecutive weeks of bullish momentum and increased fundamentals within the company can provide much more growth with time. With the current technical provided the price is currently on an uptrend with excessive accumulation from the buyers side. Looks to have more upside as both fundamentals and technicals are aligned.
OTTR trade ideas
OTTR - Cup with Handle BreakoutOTTR just completed a 7-month cup with handle pattern, triggering a buy at the $70 mark.
The fundamentals are incredible for this company. Sales are growing at 40% per quarter and earnings are up by triple digits.
It meets all 9 of William O'Neil's CANSLIM scan criteria, and even has bullish 2023 estimates from analysts.
There is a risk, however. First and foremost, the company is scheduled to report earnings today (8/1/22) after the close. Traders will have to decide whether to try their luck pre-earnings or wait until after the numbers come out.