Hey, Ross here:
And let’s end the trading week with an actionable trade idea that could put money in your pockets.
Chart of the Day
Exact Sciences (EXAS) is a biotech stock showing high relative strength.
Following a 50% jump in January, the stock is tightening with pullbacks getting shallower from left to right.
This is a sign of seller digestion which we often see before a new breakout to the upside.
EXAS is also finding support at key moving averages which appear to be holding up the stock.
I would consider buying on a breakout above $69.
P.S. Would you like special trade prospects and potential market moves sent directly to your phone? Text the word ross to 74121.
Insight of the Day
Earnings season is a great “opportunity island” you can exploit in bull, bear, and flat markets.
I’m largely positive on the market this year. Many others are not. Some say we’ll hit new lows – others say we’ll go sideways for quite a while longer.
Regardless of who ultimately ends up being correct – I believe you can still make fast profits from this earnings season.
Earnings season is like an island of opportunity that’ll always be there no matter what the broader market is doing.
Why? Because traders will always bet on whether a company will beat or underperform expectations.
And when the actual data comes out, the price of these stocks can move dramatically…
Creating fast-moving opportunities you can exploit if you have an informational edge – if you can somehow know more about a company’s earnings before it’s released.
Few know this, but there’s actually a perfectly legal way you could do that.
That’s why I consider it the #1 edge a trader can have this earnings season. And I’m explaining the whole thing right here.
Embrace the surge,
Ross Givens
Editor, Stock Surge Daily
