BOOM earnings tomorrow

Posted by downtowntrader | 11/08/2005 01:29:00 AM | 1 comments »

BOOM Earnings are tomorrow and the big question it seems, is not whether earnings will be good, but whether the huge run to earnings will be sold off or not. BOOM is at a 52 week high, but the base has been choppy at best, and had a failed breakout last earnings. BOOM has been pretty strong lately, and RSI shows it, as it is breaking above 70. If BOOM somehow dissapoints, the trendline at near 23 could be support. If BOOM has great earnings, it could see 30+
This is the 5 minute chart which show a nice cup and handle breakout today. The bottom of the handle provided a nice stop area for daytraders. The fact that BOOM came back after the sell off late in the day, shows how optimistic traders are about earnings tomorrow. Looks at volume at end of day.

I've tried to post an hourly chart for BOOM to try and show two gaps on the daily chart that have not been filled, but blogspot is having problems i guess, cause i can't upload the chart. If BOOM breaks down, look for the first gap to get filled, but the second may be a reach. Here is a link to an hourly chart.

Good Luck tommorow for those holding BOOM over earnings.



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