I wouldnt buy here, but I am holding. There are big blocks 250K plus going through this morning that can only be short covering. Institutions arent dumb enough to buy when it's spiking after earnings. Why would you let them off the hook? They have a lot more to cover. There's a floor under the stock right now. Do you think they want to hold this long term with a 4% dividend when they guided up next Q?
With your buy point you can afford to hold till it start slipping again and you are probably right about short buys to cover....but who is selling? probably those institutional investors you mentioned although I expect corporate officers will be moving what they can post black out. They will not miss the exit unless blocked by the black out. so they'll be all over like stink on you know what.
If by "now" you mean today maybe there is a floor....next week, next month I disagree. Industry wide the book to bill is flatening....everywhere, no exceptions.
As for guidance...these guys lie. Knowingly and willfully. they have numerous legal actions they have lost or settled that attest to that. I wouldn't too much value on it.
Some constructive criticism for you and honestly, well intentioned.It's up to you to consider or not. You might be too close to the company to trade it. For investing, it's good to have that info. For very short term trading I think you only need to look at price, volume and psychology. Throw fundamentals out the window.
Profit takers are selling and you cant blaMe them. Nice pop. Seems like youre a SHORT TERM trader. Just my GUESS, but I have a good feel for the stock today, I think. IF You're trading today I would buy under 21.80 and hold into the close. My GUESS is the shorts from the institution(s) need to cover even more and they are collecting sellers and the stock will close big. REPEAT. My GUESS.