This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

5 Stocks Set to Soar on Bullish Earnings

Stocks in this article: KORSCASYFDSFNSRPIR

Casey's General Stores

Content on this page requires a newer version of Adobe Flash Player.

Get Adobe Flash player

A potential earnings short-squeeze trade in the retail grocery complex is Casey's General Stores (CASY), which is set to release its numbers on Tuesday after the market close. This company, together with its subsidiaries, operates convenience stores under the Casey's General Store, HandiMart and Just Diesel names in 11 Midwestern states, primarily Iowa, Missouri, and Illinois. Wall Street analysts, on average, expect Casey's General Stores to report revenue of $1.74 billion on earnings of 67 cents per share.

If you're looking for a stock that's trending very strong heading into its earrings report this week, then make a sure to check out shares of Casey's General Stores. During the last six months, shares of Casey's General Stores are up over 20%, and the stock is current trading just a point off its 52-week high of $60.60 a share.

The current short interest as a percentage of the float for Casey's General Stores is notable at 5.8%. That means that out of the 37.81 million shares in the tradable float, 2.19 million shares are sold short by the bears. The bears have also been increasing their bets from the last reporting period by 11.4%, or by about 224,000 shares.

>>5 Breakout Stocks to Buy on a Bounce

From a technical perspective, CASY is currently trading above both its 50-day and 200-day moving averages, which is bullish. This stock has been uptrending strong for the last six months, with shares soaring from a low of $46.84 to a recent high of $60.60 a share. During that uptrend, shares of CASY have consistently made higher lows and higher highs, which is bullish technical price action. That move has how pushed CASY within range of triggering a major breakout post-earnings.

If you're bullish on CASY, I would wait until after they report and look for long-biased trades if this stock can manage to trigger a break out above $60.60 a share with high-volume. Look for volume on that move that registers near or above its three-month average action of 239,328 shares. If we get that move, then CASY could easily trade north of $65 a share post-earnings.

I would simply avoid CASY or look for short-biased trades if after earnings this stock fails to trigger that breakout, and then drops below some near-term support at $58.50 a share with heavy volume. If we get that action, then look for CASY to re-test and possibly take out its 50-day moving average of $56.75 a share.

3 of 6

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,677.90 +216.58 1.32%
S&P 500 1,950.82 +23.71 1.23%
NASDAQ 4,452.7920 +69.9450 1.60%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs