The commercial bank is making an ascending traingle, or a volatility contraction pattern. Volume is been declining throughout the formation and the price is above the 21 and 50 day MA. Also, has a IBD relative strength rating of 93. These are good technicals.
Next week reports earnings and the estimates are a $0.60 EPS, anything could happen after that report. I can't find the options activity so I don't know what the market expects. The thing is that
CBNK
is been beating estimates for the last 4 quarters, has an inter annual revenue growth of +50% and a ROIC of 43%, those are good fundamentals. Is confirmed by IBD placing
CBNK
number 4 in its Industry Group.
I normally use a 1.50% percentage filter above the breakout zone so, I'll be placing a BUY STOP at $25.30 with a STOP LOSS at $23.22. This first buy will be with half of my position sizing. I f it works I'll buy with the other half.
Next week reports earnings and the estimates are a $0.60 EPS, anything could happen after that report. I can't find the options activity so I don't know what the market expects. The thing is that
CBNK
is been beating estimates for the last 4 quarters, has an inter annual revenue growth of +50% and a ROIC of 43%, those are good fundamentals. Is confirmed by IBD placing
CBNK
number 4 in its Industry Group. I normally use a 1.50% percentage filter above the breakout zone so, I'll be placing a BUY STOP at $25.30 with a STOP LOSS at $23.22. This first buy will be with half of my position sizing. I f it works I'll buy with the other half.