Yelp (YELP) is reporting earnings after the bell, but the market appears to think it is going to be great!
The stock is up over 8% and the earnings come out at 4:30 EST today. Every signal turned green today with the price gapping above the 200 DMA.
Here is the weekly for a reference.
The SCTR jumped up in June saying something was changing on the stock. After earnings tonight we'll know more but the market is expecting something great.
Good trading,
Greg Schnell, CMT
About the author:
Greg Schnell, CMT, MFTA is Chief Technical Analyst at Osprey Strategic specializing in intermarket and commodities analysis. He is also the co-author of Stock Charts For Dummies (Wiley, 2018). Based in Calgary, Greg is a board member of the Canadian Society of Technical Analysts (CSTA) and the chairman of the CSTA Calgary chapter. He is an active member of both the CMT Association and the International Federation of Technical Analysts (IFTA).
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