This trade is made based on mainly the technical set up. There was a large vol spike on big earnings and sales growth last quarter. Followed by a big gap down that filled the gap 2 days later. On this gap fill, the stock closed near it's highs. I started a small position to keep my eyes on this name. Today's 1st hour volume is pretty good.
The sales numbers have been pretty consistent but this past quarter there was a large jump. Along with the earnings growth. This is a 1-2 punch for a monster stock.
This name has a small float also. Which means it can really move in either direction.
Execution detail:
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