When a stock breaks to new highs on an earnings report it can be extremely powerful. The run up for the stock often continues for multiple days following the earnings report. The second day play on these earnings stocks are often one of our go to moves at bulls. We are always looking for the top earnings pushers in the a.m. Once we see that we wait for an intraday setup to enter the stock.
Today we played $yrcw exactly this way. As you can see on the daily chart below, $yrcw made a strong move on friday with huge volume. This automatically puts it on our watchlist for the next day. Early on in the morning the stock formed an early flag. The consolidation was immediately alerted on our bulls breakout scanner and we were able to catch the intraday flag breakout first thing in the morning. We bought the stock in the flag at 13.48 and sold the pop after the break of the flag at 13.9.
For more information on the bulls trade ideas scanner.. go to this link.
Intraday chart- note the flag that forms in the first 15 minutes after the initial strength in the morning