AZO beats estimates and dive bombs
- Thread starter axeman
- Start date
4X volume and one of the biggest candles in a long time.
Everyone ganged up at once and pounded it in one
day, or some large entity dumped liked crazy.
I kinda doubt a 20/40 cross could cause this
kind of movement in one day, days after it happened.
So who dumped?
An institution?
Everyone?
Traders?
Random event?
peace
axeman
Everyone ganged up at once and pounded it in one
day, or some large entity dumped liked crazy.
I kinda doubt a 20/40 cross could cause this
kind of movement in one day, days after it happened.
So who dumped?
An institution?
Everyone?
Traders?
Random event?
peace
axeman
Their revenue numbers were a bit weak.
Looking at just the price chart over the last little while, the sideways movement that started in mid-Oct and interrupted the nice little uptrend that started at the end of July showed signs of reversing when the $80 support area turned into quite a neat resistance over the previous 7 trading days. From what I can see, if there was going to be a big move (esp. on an earnings announcement) the price chart indicated on recent activity that it would be down.
I know this doesn't answer the question of 'why' given it beat estimates, but the last few days suggested an upside breakout was unlikely.
I know this doesn't answer the question of 'why' given it beat estimates, but the last few days suggested an upside breakout was unlikely.
