NEW YORK (TheStreet) -- The six former high-flying momentum stocks profiled in today's technical analysis below were hit hard by earnings misses, as they reported quarterly results that fell short of analysts' estimates.
The technical analysis serves as a guide to help you determine at which levels to buy and sell the stocks.
All six stocks had strong upward momentum until they set all-time or multiyear intraday highs in late 2014 or in the first four months of this year. All six are below their 50-day simple moving averages on their daily charts, while only one is above its 200-day simple moving average. All have negative weekly charts with two having oversold momentum. Two are also below their 200-week simple moving averages.
Let's take a look at the daily charts and strategy profiles.
Courtesy of MetaStock Xenith
Buffalo Wild Wings (BWLD) closed at $158.07 on Wednesday. Most of the price gaps shown are in reaction to earnings. The stock gapped higher to an all-time intraday high of $195.83 on Feb. 6, following a positive reaction to earnings. The stock gapped lower on a negative reaction to earnings on April 29, setting a low of $152.07 on May 6. From high to low, the stock fell by 22%.
Note the importance of the 200-day simple moving average with the breakout above it on Oct. 28, and then the break below it on April 29.