CDAY - will earnings be the catalyst?
CDAY has formed an inverse H&S and is now trading close to it's 200 day moving average. However, the stock might not be on a sustainable uptrend just yet until it can clear the neckline around 70.80.
With earnings expected on 2nd Nov (AMC), let's see if it could propel the stock above the neckline. When it does, it is still prudent to place an initial stop loss (say) just 5% below the neckline (to avoid sharp drawdowns). It is always better to keep losses small and re-enter when technicals look right again.
Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!
With earnings expected on 2nd Nov (AMC), let's see if it could propel the stock above the neckline. When it does, it is still prudent to place an initial stop loss (say) just 5% below the neckline (to avoid sharp drawdowns). It is always better to keep losses small and re-enter when technicals look right again.
Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!
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