$TNGO is a great example of an earnings/PR breakdown trade. My favorite type of plays are triggered by some type of press release or earnings announcement. We then look for a technical setup intraday to find a low risk entry – it can be long or short. These stocks tend to be in play for multiple days, so you end up with numerous opportunities to play it after the news comes out.
- Short at $18.70
- Cover 1/2 at $18.09
- Cover last 1/2 at $17.46
And a second trade:
- Short at $17.02
- Cover 1/2 at $16.70
- Cover last 1/2 at $16.46
If you’d like to learn more about trading the PR/Earnings setup, email me at kunal@bullsonwallstreet.com
