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Three Stocks To Watch That Are Breaking Out

Here are three stocks that are currently breaking out, or setting up to break out, following positive quarterly earnings report.


DKS

Dick's Sporting Goods (DKS) broke out a key resistance area near 43 on November 26th, following a blowout third quarter earnings report.

Price jumped 20% on that day, and during the past several days it has been consolidating into a pennant/triangle formation above support at 44.60.

Today Friday December 5th, 2019 price made an attempt to breakout out of the pattern. It needs to more volume to pop and run. Our targets are 48.78, 51.58 and 54.50. Primary support is 44.50; secondary support is 43.50

Several analysts have upgraded the company and raised targets, including

  • Barclays upgraded from Equal Weight to Overweight from Equal Weight with a $56 price target
  • Baird keeps Neutral rating, and raised price target to $51
  • Evercore ISI upgraded to Outperform from In Line "switching from defense to offense"

Watch DKS video analysis


DOCU

DocuSign Inc. (DOCU) broke out today after its Q3 earnings beat, raised guidance, and accelerating subscription revenue.

Price is currently up against resistance at 75.50. Volume is strong and holding above the 8 EMA (exponential moving average) and support at 72.50. Our targets are 78.28, 81.60 and 85.08. Primary support is 72.50. Secondary support is 69.

Several analyst have upgraded the company and/or raised target

  • JMP Securities raised target to $86 and keeps Outperform rating
  • Citi keeps buy rating with target at $85
  • Deutsche Bank reaffirms buy rating and raised target to $80

Watch DOCU video analysis


EXPR

Yesterday December 5th, 2019 Express, Inc. (EXPR) beat analyst estimates, jumping 30% and breaking out of a 4.30 resistance areas.

Today price has extended into 5.30. If momentum carries we could see 6.39 and 7.84, which are our next two targets. Any pullback, look for price retesting the support trend line near 4.80. If it pulls back even further, and moves below 4.80, the secondary support is 4.30.

Q3 and Q4 Reports:

  • Express reports Q3 adjusted EPS (3c), consensus (9c) Reports Q3 revenue $488.5M, consensus $483.25M. Reports Q3 SSS down 5%.
  • Express sees Q4 diluted EPS 16c-21c, consensus 12c Sees Q4 SSS (1%)-(3%).

Watch EXPR video analysis


Good trading!


Trading Risk Disclaimer

All the information shared is provided for educational purposes only. Any trades placed upon reliance of SharperTrades, LLC are taken at your own risk for your own account. Past performance is no guarantee. While there is great potential for reward trading stocks, cryptos, commodities, options, forex and other trading securities, there is also substantial risk of loss. All trading operations involve high risks of losing your entire investment. You must therefore decide your own suitability to trade. Trading results can never be guaranteed. SharperTrades, LLC is not registered as an investment adviser with any federal or state regulatory agency. This is not an offer to buy or sell stocks, cryptos, forex, futures, options, commodity interests or any other trading securities.

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