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
Shares of AMRC are soaring higher ahead of the company's earnings report, which is due out on May 9 before the market opens.
From a technical perspective, AMRC is ripping to the upside here right off some near-term support at $7.01 and back above its 50-day at $7.46 with above-average volume. This move is quickly pushing shares of AMRC within range of triggering a breakout trade. That trade will hit if AMRC manages to take out some near-term overhead resistance levels at $7.81 to $8.22 with high volume.
Traders should now look for long-biased trades in AMRC as long as it's trending above $50-day at $7.46 or above $7.25 and then once it sustains a move or close above $7.81 to $8.22 with volume that hits near or above 129,167 shares. If that breakout triggers soon, then AMRC will set up to re-test or possibly take out its next major overhead resistance levels at $8.54 to $9
Traders should look to trade this breakout before or after earnings, but holding through earnings always holds additional risks that could change the dynamics of the technical setup.
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.