$CHGG swing long idea after earningsDisclaimer: 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 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!
