MAR earnings due today - will price go higher?
MAR earnings are due after the close today so I will be waiting to see how this affects price. If the move up continues there may be an opportunity to buy.
MAR was a great performer last year. After cleanly breaking the 2007 high ($52) in about February/March 2014 the up trend continued to be linear with multiple pullbacks and breakouts allowing us to add to our positions. The October pullback stopped me out but I entered again once the September high was taken out. However, since then price has been in consolidation and was too deep to keep me in the trade.
Yesterday saw price break out of the consolidation - on higher volume. But this is too early for me to consider re-entering MAR - in addition to not wanting to enter just prior to the earnings announcement. I will wait for the next buy opportunity and reassess then.
MAR was a great performer last year. After cleanly breaking the 2007 high ($52) in about February/March 2014 the up trend continued to be linear with multiple pullbacks and breakouts allowing us to add to our positions. The October pullback stopped me out but I entered again once the September high was taken out. However, since then price has been in consolidation and was too deep to keep me in the trade.
Yesterday saw price break out of the consolidation - on higher volume. But this is too early for me to consider re-entering MAR - in addition to not wanting to enter just prior to the earnings announcement. I will wait for the next buy opportunity and reassess then.
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Twitter: twitter.com/dynamictrader
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