There are times when a stock is trapped below a well-defined resistance and then a solid earnings report comes and sparks a breakout in the stock. It usually results in a runaway move after a Gap-up.
Can something like this happen in Maxim Integrated Products MXIM?
Maxim (MXIM) yesterday reported second-quarter earnings that beat analysts’ forecasts and revenue that topped expectations.
Will this lead to breakout in the stock?
A Gap up above 64 will attract strong buying in the stock. This stock can be a great case study to learn how earnings triggered breakout becomes a good opportunity to play for.
Please do your own due diligence before making any investment/trading decision
The stock failed to breakout and hence no trade initiated