Earnings this past week and surely smoked the short on gap up after earnings. Probably the biggest short squeeze of the week. I don't have a position yet, but will be stalking it around the 54.13 pivot. Up on massive volume too, probably continue higher Mon/Tue and then looking to buy the dip.
Bullish momentum has continued since last post. PMO continues to rise and has expanded over last two sessions. RSX has cooled off a little bit and turned upward again. I see two potential scenarios playing out here:
First, the market run continues and BL, without any resistance above, keeps closing the gap on its ATH of 58.15; a positive surprise on ER would...
Re-seller deal with SAP could mean growth (see link). BL fills a gap in SAP's system and I can see a case for them being bought outright.
www.blackline.com
The price of BLACKLINE shares corrective action. The next correction wave size may be half the size of the previous correction wave. This means that the flop reduction may be stopped by the flat ATR axis at the level of USD 28.89. Then, on the basis of the wave rule, I expect a rising wave of double amplitude. For this purpose, it would be close to 39.68 usd.
After a big fall, it's even bigger. We are of opinion that BLACKLINE shares will continue to fall in the long run. But before it, a correction precedes it. From 28 usd level, with a flat increase to reach USD 35,41. The bigger fall is here. Up to 14,52 usd. At this level, after long period of consolidation ,we expected the exchange rate to rise again.
