Australian betting technology provider Betmakers is a few days away from its 2020 earnings announcement (27th August). Where is the market expecting the SP to go with Wednesdays announcement?
Unless the earnings report has a significant negative surprise then I expect a short term bump in price into the 0.50 range.
With a positive surprise, such as acquisition of new revenue sources, then a larger jump could be on the card.
With a Stop Loss at 0.395 to catch a large negative swing, I am betting on a positive jump in price by Friday 28th and into the following weeks.
cheers BT
(always DYOR)
- The last 2 weeks has shown the stock enter a significant compression phase with Bollinger Bands contracting inside the Keltner Channel in a TTM Squeeze formation.
- Trading volumes are down for the last fortnight
- The market is clearly taking a pause in anticipation.
- As at today the TTM Squeeze indicator show market forces in the balance......however
- On Balance volume as continued to rise over the last 2 weeks and the 8 day EMA has recovered ground against the 21 day EMA
Unless the earnings report has a significant negative surprise then I expect a short term bump in price into the 0.50 range.
With a positive surprise, such as acquisition of new revenue sources, then a larger jump could be on the card.
With a Stop Loss at 0.395 to catch a large negative swing, I am betting on a positive jump in price by Friday 28th and into the following weeks.
cheers BT
(always DYOR)
cheers
The Bush Trader