We are in the middle of earnings seasons and by now you know the earnings breakout is one of my favorite and most profitable setups.
An earnings breakout requires:
1) A stock that has formed a long base or range
2) A big gap breakout
3) A huge volume surge
4) A pullback to the bottom of the breakout bar for entry
TWTR is my favorite 2015 earnings breakout thus far. It broke from a downtrend on huge volume and has carved out a range between $46-49. A breakout over $49 sets it up for a move back to a recent pivot high at $55. Entry on a pullback allows you to play the $46-49 range and play a pre-$50 breakout.
Note: Trade Report members and I entered the stock at the bottom of the range at $47.05 and are still holding.
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