Some decent insider selling. The only buys were exercising their options... The question is how much upside does one expect from these levels? 5%, 10% or 20%... The stock has already gapped up the past 3 earnings and longs expect that to happen every quarter??
It is apparent that technicals are gibberish to a novice like you... and what is with the language? For an old guy, I expected a little bit more courtesy. Anyways, we will find out Friday... My position is very simple, it either reverses from these levels or might have one last exhaustion gap up and then decline sharply. Check out QLYS post-earnings drop... Market is in the mode of shoot first and ask questions later mode for anybody that misses or guides lower...
Also, if you think I'm just making stuff up... Check out my post on stocktwits (My handle is "Options_Only_Trader") I've posted the EW chart for MNST
So, the company's best use of it's cash is Buy back? KO deal is already priced and is a non-factor on the positive side. I guess you've no clue about the deteriorating technicals on the charts and you've bearish divergences all over the place. Not to mention that the broader market is the verge of a major top for years to come. Cover my short? In today's age why would i touch the stock when I can place my trade via options. Own, a bunch of Sep puts and some May puts (In case we get that 20% drop). The way i see it is the best case scenario is an exhaustion gap or a downside gap would complete the island-reversal of "monster" proportion :)
I'll indulge your comment on the fundamental aspect of it... What is the catalyst that the company could say during the earnings call that would justify another 10% or higher upside move? Just wondering...
MNST seems to have completed 5 waves of the EW pattern going back to mid 90's and if that count is indeed true then expect a nice 20%-30% gap down after earnings (If they miss and/or guide lower, also any possible issues with the KO deal) The other possibility is a small gap up followed by a reversal (Often called exhaustion gap) Either way, I think the major run in the stock that has lasted 20 years is coming to a grinding halt. Also, to draw parallel check out the action of MNST just before the 2007 top.
Did I mention a Doji or an inverted hammer on today's candle. Generally, indicates a potential change in trend if has follow though on the downside in the next day or 2. Also, CS still maintains it's %4 target calling for 37.5% downside.
I did not say PBR will go bankrupt or is going to zero. My point is the stock will take a breather at this important level and give back some gains. If it breaks today's lows tomorrow then 7.5 (23% retracement) is def. in the cards. But, my downside target is about 7 (38% retracement) or 6.65 (50% retracement)
Short sellers have been right from $55 to $5 and 3$ from the lows you think the long term trend has changed? Go and check my Long and Short calls on PBR in the past. As far as momentum goes... it is great as long as it lasts....
of less than 7 means global growth is in peril and all commodities including crude will be hit. PBR had a massive run of almost 70% from the lows... It will have to retrace 38% to 50% a the minimum. Also, EIA report tomorrow, could be bearish for oil.
A run to 7.60-8 is possible tomorrow. After that it will move down by at least 10%. Going long 7.50 puts to make some quick $$$$$