“In The Sweet Spot?”:
“Honey”well is a big industrial conglomerate and the supertanker has risen more than 60% over the last one-year period and carries a dividend yield of 1.7%. It REPORTED earnings last week on 4/23 and fell 2.1%. In fact 3 of the last 4 times it released numbers it has declined to the tune of 3.7 and 2.8% on 1/29 and 7/24/20. Is the stock in the sweet spot for a purchase? One would be hard-pressed to declare it is acting soft with it just 4% off most recent all-time highs. What I did notice are the last 2 times it fell after numbers the damage was mostly done and the stock resumed its uptrend not long after. I think that could be the case here again, to purchase into a gap fill from the 4/8 session. For longer-term investors, they can have the comfort of knowing that the rising 50 day SMA lies just a few percent away and that the stock is acting well POST breakout from a cup base pivot of 216.80 taken out on 3/26.