10th September 2019, that day formed big red candlestick with significant volume. Then price quickly recovered the loss within few days, indicated the selling power was not that strong.
And now it is near to its September 2019 Earning Release. From the price action, we can tell the coming earning will beat estimation.
Meanwhile, the market forms Pattern P with breakout. Together with Earning Release, it might be a good chance to enter trade.
We put the trading result together with analysis because this trade is “one-night stand” trade. Prior to Earning Release, we entered position. Then we cut the loss small when second day market opened gap down.
For the Earning Release, indeed, it is very good Quarter Earning. But still, price drops for “overvalued” reason. So we have to accept the loss and continue our journey.