DPZ Earnings Play Day Trade Revenue Miss

16 de jul. de 2019

DPZ got an earnings miss getting below expectations revenue. If you look at the daily chart above and the trendlines, pivots and moving averages you will see its all weakness. Its currently trading at 249 premarket. It has sank a lot by around 20 points which in itself is a concern, because when a stock sinks too much premarket bulls would come in and buy it as a bargain price which sometimes drives the stock back up after a gap fade. Right now, if the bulls don't come in too heavy when the market opens, it looks bearish (weak) so I would be more inclined to short it as it got room to fade down to around 241 which is about 9 points of room. If the bulls come in heavy and fill the market, then it can move up to 257 and then to the daily pivot 262. Having said that I still prefer it for a short rather than a long, as it has bad news, and its below all major moving averages and got room to move.