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    Aritzia, Telus International, Paypal Discussions

    by GoodWhale725 4 months ago

    Hi Guys,

    Hope you are all doing well.
    Recently we saw a big momentum in Aritizia (ATZ) stock when earnings were reported. I did some technical analysis and found that there was a gap in the chart which got filled with this. I am thinking that TELUS International (TIXT) and PayPal have similar charts and potential to do the same when earnings are reported. Would like to know your views regarding the same.

    Thanks
    D

    Deaddog 4 months ago

    Here's my take;
    ATZ is a nicer looking chart that either TIXT ot PYPL.
    As I look at the chart I can see where I could have taken a decent entry with a pretty good R/R, not so much with the other two.
    I wouldn't have taken an entry on any of them a I rarely trades stocks trading below their 150 day moving average.
    I also stay away from earnings anouncements. You never know how the market will percieve what ever new information it gets. For every move like ATZ there is probably a gap down that will mess up your risk control.
    That said I will hold a stock moving in my direction thru earnings although I might take a part of the position off the table.

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    TraderMike 4 months ago

    I'm with you on avoiding earnings.  I will only hold through earnings is I have a decent profit cushion.  I know that options traders actually seek out earnings plays to implement some fancy options strategies... basically betting on an increase in volatility, IIRC.

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    GoodWhale725 4 months ago

    Good analysis. Thanks for taking time to reply:)
     

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    Deaddog 4 months ago

    A stock setting up very much like ATZ is BBD.B
    Higher highs, higher lows, decent pull backs.
    About to take a second run at the 150 day MA.
    Earnings are a month away.

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    GoodWhale725 4 months ago

    Yes,  I will have a look into BBD.B. Another good stock that I missed was BWXT ( BWX Technologies Inc ). I am wondering if there is still a room to enter. What's your take on that?

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    Deaddog 4 months ago

    Let me ask you why BWXT was on your watch list and where you would have entered? (Why didn't you take a position?)
    My first glance at a daily chart didn't draw my interest. However the weekly chart caught my attention. 
    My first glance showed price making lower lows. That's a non starter for me.
    Nice move on Jan 8 (I assume that was the trigger) however the volume wasn't there. 
    As for opening a position now, it depends on your time frame. You could take a small position with a wide stop and see what happens. The downside is you might tie up your capital while you wait. 

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    GoodWhale725 4 months ago

    I have been following this stock for a long time and the first time I thought of entering was somewhere around 16th June where there was a good volume and from there it kept moving, I was thinking of holding my position for long term, maybe few months.

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    Deaddog 4 months ago

    What is that draws you to this stock? 
    What kind of return are you expecting?

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