News Breaks
|
| 14:01 EDT |  | CECO |
| theflyonthewall.com: | Career Education: Earnings release technical preview, bear pattern, gap risk | | BULLISH CASE: On better than expected news/outlook the stock could trade to the upper limit of the short-term bullish price channel at $21.51. On a bullish breakout above the price channel the following resistance levels would become upside objectives: $22.15, $22.86, $23.32, $23.77, $24.30, $24.73, $25.29, $25.68, $26.13. BEARISH CASE: There is a potential bearish flag on the daily chart that will become active on a breakdown below $20.50. Downside potential for the pattern is to the $18 area. On worse than expected news/outlook the stock could trade to the lower limit of the price channel at $20.57. On a bearish breakdown below the price channel the following support levels would become downside objectives: $20.03, $19.73, $19.29, $19.00, $18.70, $18.40, $18.10, $17.75, $17.31, $17.00, $16.69, $16.44, $16.09. NOTE: Very large short-base at 13.4 days to cover, with 11% of the float short. Traders are positioned for very negative news. Reactions on a surprise, especially a positive one given the very large short-base, have a high probability of being extreme in duration and price. High gap risk. :theflyonthewall.com |
|
|
Subscribe for More Information
