NASDAQ:TTEK
Broke resistance zone, low volume before the break.
Risk reward 1/3
Optional stop loss under 164.5$, I prefer under 157$
I will try to entering on a rollback...
This stock is highly likely to trade to $200 by the end of 2024 if they keep the pace of their current business trends.
This company is the definition of winning. I love the name and will hold it to $200 minimum.
Stocks like this are expensive in terms of valuation for a reason.... its called quality.
Don't be cheap, you get what you pay for.
Financial Breakdown
Tetra Tech, Inc. TTEK reported fourth-quarter fiscal 2023 (ended Oct 1, 2023) adjusted earnings of $1.78 per share, which surpassed the Zacks Consensus Estimate of earnings of $1.45 per share. The bottom line surged 41.3% year over year driven by strong momentum in all segments.
The bottom line also surpassed management’s projection of...
$TTEK - $PAVE ETF making new highs stock.
Construction/engineering/infrastr., a earnings/grower 3-beat caught in Feb top,
U.S. Federal = 28% of Q rev) U.S. Commercial =24% of Qs rev).
Coming off TL, >9ema, sits at 200 but moves fast once reverses trend -
$TTEK 1mth RS, barely get hit or gapped due to the occasional overnight sell down in market futures over the past weeks.
the past 3 consecutive green session brings $TTEK within confluence of MAs, and between VWAPs from ATH and Q4 ER.
now trading beneath $164 pivot
$TTEK looks a lot like a hyperwave although the 5 and 6 is a little fast and fakeout below 2. But I have a very bearish bias going with this because of fundamental reasons.
* Great earnings quarter over quarter
* Very strong up trend
* Breaking out of a cup and handle pattern forming since Feb 2021
* Breaking out with slightly higher volume than average
* High Relative Strength of 8.15 relative to the Industrial sector
Note:
Given the current market situation, it's better to take some profits early. First target is at 2:1 RR as indicated.
* Strong earnings quarter over quarter
* Strong up trend
* Broke out of a year-to-date consolidation
* Consolidating right above the broken level
Trade Idea
* Now would be a great time to get in on this given that it has broke out and is now creating a new support right above the broken level.
* However, if you are looking for a discount, this may consolidate a...
With a positive over reaction following $TTEK earnings, PEAD projected a slight bullish outlook for the stock and placed it in Drift B
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