Chegg, Inc.Long
$CHGG swing long idea after earnings
Updated
Disclaimer: I am already in this position from 35.68 (-5% from current price) but I plan to add more at support levels, with a profit target above $50
* Idea: Swing longCHGG from earnings miss, big gap down.
* Rationale: While their earnings were not good, it wasn't that bad. They have Billions in cash on hand. Have announced a buy back. All Analyst ratings after downgrades is still well above the current price. I think this drop is over done and we are seeing price start to come back today (Nov 3rd).
* Timeframe: I expect to hold this for 2 months, looking for about +40% profit on the trade
Good luck!
* Idea: Swing long
CHGG from earnings miss, big gap down.* Rationale: While their earnings were not good, it wasn't that bad. They have Billions in cash on hand. Have announced a buy back. All Analyst ratings after downgrades is still well above the current price. I think this drop is over done and we are seeing price start to come back today (Nov 3rd).
* Timeframe: I expect to hold this for 2 months, looking for about +40% profit on the trade
Good luck!
Trade active
Starting to accumulate there. Current avg is 34 and will add heavy around 27sTrade active
added a bit more. Avg 32. Still plan to add if we start in the 25 to 27s range.Trade active
Added equal size. New avg is 28.73 . This is my last add.
"Don't settle for a life less than what you are capable of"
@profitnotiondaily on StockTwits
@profitnotiondaily on StockTwits
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