A lot of times intraday breakouts are a bit hard to post, especially when you get a good move with earnings or news behind it. These intraday breaks are pretty easy to trade and make for decent money as long as you remember that they are meant to be scalps and nothing more. Earnings movers especially make for great scalp trades on intraday breaks. They have a history of popping pretty well every time they break intraday. Today we played two stocks on their intraday break and they were both earnings breakout stocks. ($INVN, $SWI)
Anytime you get a stock breaking to new highs on earnings you can bet that it’s going to be an extra powerful breakout. I was watching $SWI today on its earnings move and saw it setting up intraday. So we took it for a trade and scalped it for a pretty good gain. Here is a look at the intraday chart
The stock was also near new high breakout on the daily chart, which is what made the break even more powerful. It ran up over 2 bucks from our intraday buy.
If you have any questions, don’t hesitate to email me at kunal@bullsonwallstreet.com
