The online real estate company late Tuesday reported better-than-expected results for the 2016 third quarter.
Zillow posted earnings of 4 cents per diluted share, above Wall Street's expected 2 cents per share. Revenue was $224.59 million, higher than analysts' projected $221.86 million.
Tech stocks are undergoing a nice correction here but some names have been defying the trend. Zillow reported robust earnings Tuesday night and the stock had a remarkable performance Wednesday with some pressure building all around it.
We see the channel but Zillow has now pushed out of it, leaping past resistance and looking to fill that gap from August. Moving Average Convergence Divergence (MACD) is now on a buy signal while momentum indicators show there is more gas left in the tank.
We like to move toward the names with the best relative strength -- Zillow counts as one of those.
Chris Versace and Bob Lang's "Chart of the Day: Zillow" originally published on 11/3/16 on Trifecta Stocks.
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