A Pair of Earnings Plays
Two stocks scheduled to report earnings a week from today have distinctly different but equally tradable charts.
MICROS Systems (MCRS) provides information services for the hospitality and specialty retail industries. The stock was up more nearly fourfold in April 2012 from its low in 2009, but retraced 30% of that gain later in the year. Over the last several months, it formed an inverse head-and-shoulders base and recent price action penetrated the neckline and the 50-day moving average. The head of the pattern touched the August 2011 low level, which, at the time, was a 38% retracement of the 2009 low and the 2012 high....324 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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