$EXTR long if 23.6% breaksAs seen on the chart, if the 23.6% Fibonacci retracement is broken, I’m positioned long in $EXTR. Additionally, the 30-, 50-, and 200-day SMAs are perfectly aligned. Ready for Uptober?
EXTR trade ideas
EXTR Waning Recovery BounceEXTR got hammered on rough forward-looking guidance in their last earnings. After dropping 18% the stock has rallied seemingly on no new developments, actually, the most recent change is there has been (unsurprisingly) litigation opened for the loss.
www.tradingview.com
I'm looking for a sign this rally is failing and I'm focusing on a simple RSI divergence. If the price peak generates a peak in the RSI below the previous peak, I'll be short.
EXTR , Earnings notes , strategy rules clarifications needed This is a perfect example to fine tune earnings based rules for entry . I think todays gap down is all too familiar in the stock market around earnings and thus not too hard to avoid .
My strategy, although it try's not to trade too close to a stocks earnings , does not have concrete rules for
1) max days I can take a trade pre earnings
2) How much of a de risk or how much up I need to be to hold through earnings
This is a personal note for me to , print and review because I think this is a pretty normal earnings fail to plan my rules around .
Off the top of my head I think that I looks like 8 trading sessions pre earnings there are a fair amount of successful trades here , so its enough time for many stocks to derisk . 8 sessions pre earnings min is a good number .
Secondly , EXTR gapped down from this entry 8.64% which is fairly common in my opinion . I need to go to work lol , so leaving this one for further thought but ill update with a comment based on how I decide to modify my risk rules for this . Trading around earnings is def more risky but it can be done with a proper war plan , on this trade we totally lucked out , but had I been in still , what should I have done pre earnings , in this case we only hit PT1 and even if we were around PT1 the day before earning , I think that would have been too small of a move up ( 3.86% ) to hold though earnings . But I am going to do a deeper dive later .
One last thing I've learned in last three years , IT DOES NOT MATTER WHAT EARNINGS RESULT IS !!!
, all that matters is the reaction .Good reaction or bad ,we don't even need to know why , in this case its probably because although EPS is seemingly good , future guidance is probably lacking growth or something . But doesn't matter reaction is bad , that's all that we need to take in here . Just my opinion but I think its important , do not be the guy buying more while the stock is clearly failing .
Confirmation bias is the tendency to search for, interpret, favor, and recall information in a way that confirms or supports one's prior beliefs or values. I think that when we see these earnings with technical failures confirmation bias is common to see exploited by many traders .
Here is an example on a stock twits post from EXTR this morning
Random person ( we don't care who this is just a near by example ) : " Crushed the results and amazing guidance. Seems like the market hasn’t absorbed the numbers. CFO leaving is no big deal and should have no impact to the SP. I definitely see this as manipulation before it’s crosses 52 week high"
Theres always tons of this kind of thinking, I have done it too ! and thats a good example but theres 10 more where that came from on stocktwits ect ect . The market is never wrong , opinions often are .
EXTR , LONG (trade taken at yesterdays close) First trade of the year .
With a valid GTM , but stunted , progressive exposure is key , I have no idea what this company does and I watched their website about us vid , so just bought squiggly lines . I know their EPS traits are good and their chart looks nice , and that's all .
Showed RS yesterday and is qualifies as a TT's name .
Is $EXTR ready for the next move higher?Notes:
* Strong up trend
* Great earnings QoQ
* Basing for the past ~8 weeks
* Pulled back to its 50 day line and found support around the 18.17 area
* Now coming up on the right side of its base with higher than average volume
* Offering an early entry
* Printed a Pocket Pivot, indicating institutional demand
Technicals:
Sector: Technology - Communication Equipment
Relative Strength vs. Sector: 5.94
Relative Strength vs. SP500: 5.88
U/D Ratio: 0.97
Base Depth: 15.74%
Distance from breakout buy point: -5.99%
Volume 88.56% above its 15 day avg.
Trade Idea:
* Now's a great time to enter as it's just coming off of its 50 day line and also printed a pocket pivot.
* Based on its prior performance, $EXTR can go another ~17.6% from here.
* If you're looking for a better entry you may be able to catch one around 19.3
17/11/22 - Long Idea EXTR$EXTR - showing relative strength today, breaks out from consolidative flat pattern. Small long with stop just below today's low. Market opened weak, so starter position to test waters.
EXTR - Breakout ScenarioEXTR with price acting as the right shoulder of an inverted H&S
This is also within a broadening structure or megaphone
Price may breakout of this structure
Weekly chart
$EXTR Weekly BreakoutLike the set up on this hidden gem wants to breakout - long on this one SL under 11.46
There are Options available as well JAN 15C 0.95 each
EXTR: 5 times the charm?Ive never heard of or watched this company before today and at a glance, my knee jerk reaction is to short this. HOWEVER, the pattern is a bit different here post earnings beats. We see the usual sharp rally, followed by a sell off but this one is much less shallow. Its tested obvious resistance at 12usd 5x. Watching to see if it whether it will break out or if yesterdays candle is a hanging man....
Extreme Networks as short-term trade idea$EXTR
Oversold candidate due for a bounce. Near term trading target price $10.80. Can also be bought as investment.
$JNPR interesting as well.
Both need some cooperation by the Nasdaq.
EXTR: Bullish move aheadExtreme Networks, Inc. is a leading provider of a next generation of switching solutions that meet the increasing needs of enterprise local area networks internet service providers and content providers. The key advantages of its Layer 3 switching solutions are increased performance, the ability to easily grow in size as customer needs change, flexible allocation of network resources, ease of use and lower cost of ownership. These advantages are obtained through the use of custom semiconductors, known as ASICs, in its products and through hardware and software designs.
Technical Analysis shows an uptick in OBV and strong bullish indicators on the Heiken Ashi.
We can expect a move up to the first target price, with a secondary target of 15, so very much valid for entry now on these indicators and potential upside.
Stop-loss set below the start of the trend.
Good luck!
$EXTR Long SetupCouple names in the communication/network is setting up nicely. Here is Extreme Networks with a cup and then box trading base setup. The volume pattern looks very constructive. On my focus list for this week.
Extreme Networks Inc (EXTR)- PROVIDES NETWORK INFRASTRUCTURE EQUIPMENT FOR GOVERNMENT, EDUCATION, HEALTHCARE, TELECOM INDUSTRIES.
$EXTR Cup and Handle Setup$EXTR nice cup and handle pattern on daily chart with strong volume pattern.
Extreme Networks Inc (EXTR)- PROVIDES NETWORK INFRASTRUCTURE EQUIPMENT FOR GOVERNMENT, EDUCATION, HEALTHCARE, TELECOM INDUSTRIES.
Bullish Hammer - time to break up and out?After adding more of this stock to my portfolio today, it's always a nice thing to see a bullish sign at the end of the day.
This stock didn't suffer the same downturn as other stocks today, so I'm hopeful that it's a sign of a strong sign.
If it starts pulling higher in the next day or two, I'd expect it to break out above previous highs.
Good luck - do your own homework and let me know what you think.
EXTR - Opening a position after a pullbackLooks to be bouncing off of a retracement and looks to have a 25% upside in the near term. As always these are my own observations - please do your own research.
Didn't flinch - I went shoppingI find it interesting with the entire tech sector taking a dirt nap that EXTR didn't really have the same downward reaction as the others.
I decided to add more on the ever so slight dip.
Extreme Networks - 20% upside (EXTR)After years of M&As, company is finally making a comeback. 20% gap to be filled soon.. get in get out
EXTRLooks bullish at this point.
Strong after earnings move. bullish flag above all sma's
Not overbought
Now expecting next leg up.
Stop below 5.50
Targets 7,8
$EXTR can rise in the next daysContextual immersion trading strategy idea.
Extreme Networks, Inc. provides software-driven networking solutions for enterprise, data center, and service provider customers worldwide.
The demand for shares of the company looks higher than the supply.
This and other conditions can cause a rise in the share price in the next days.
So I opened a long position from $4,72;
stop-loss — $4,39.
Information about take-profits will be later.
Do not view this idea as a recommendation for trading or investing. It is published only to introduce my own vision.
Always do your own analysis before making deals. When you use any materials, do not rely on blind trust.
You should remember that isolated deals do not give systematic profit, so trade/invest using a developed strategy.
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Extreme Networks, Inc Upside targets $extrExtreme Networks, Inc. engages in providing software driven networking solutions for enterprise, data center, and service provider customers. It designs, develops, and manufactures wired and wireless network infrastructure equipment and develops the software for network management, policy, analytics, security, and access controls. Its products include ExtremeApplications, ExtremeSwicthing, ExtremeRouting and ExtremeMobiliy. The company was founded in May 1996 and is headquartered in San Jose, CA.
Extreme looking bullish for 2020The On-balance-Volume(OBV) has been having higher lows since the past few years signalling accumulation. Even after the several price drops the OBV has kept the diagonal line as support.
Another key metric is the crossing of 21-EMA and 100-EMA. Whenever the crossing happens the price shoots up significantly (green arrows) or crashes down (red arrows).
EXTR has been on a downtrend for a while now following global trade war issues however the company has been growing strong (Revenue in 2017 ~500Million $ , 2019~1Billion$).
Long term outlook is bullish on this stock. Expecting the 21EMA to cross above the 100EMA soon which should cause a price jump.
Note: This is not financial advise. Please do your own research.
