Revolve just broke upward through its downward trend line ahead of earnings. I hesitate to buy this breakout because it happened so suddenly, and big green candles like that have a tendency to reverse themselves. However, I will buy if it pulls back.
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Yep, big stretch back down to the 200 MA on the hourly chart. However, watch for another trend line test today or tomorrow.
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So glad I didn't buy this breakout. Man, this stock is fickle.
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I took a position at 33.50. We've got big bullish divergence forming, and Revolve got repulsed on an attempt to break below its channel and formed a bullish hammer candlestick.
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I'm loving this price action on the daily chart. Inverted hammer followed by a hammer, both bullish candlesticks. We're also above the Hull Moving Average, and the MACD histogram is moving up. I'm hoping to confirm a bullish trendline break within a couple days.
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Down 5% after hours. This stock is nothing if not a thrill ride!
