It’s all about expectations. Yahoo reported their sales increased 26% but their adjusted earnings per share lagged what Wall Street was expecting.
Here is the carnage that followed:
Price sliced through all sorts of support, only hesitating at the May and June swing lows (green circles). Those were great places to enter in the direction of the impulse move.
Since things were flying fast and furious, it was smart and necessary to zoom into a short-term time interval. A 15 minute chart would have given a low risk entry but it doesn’t do so reliably under such extraordinary market conditions.
Enjoyed this? Don't miss the next one, grab the feed or